Prudential Center
The arena was originally intended to be the home of the New Jersey Nets, but YankeeNets sold the team to Bruce Ratner, who decided he would relocate the Nets to the Barclays Center in Brooklyn. However, the construction of the arena was plagued by lawsuits and economic issues during the recession. In the fall of 2009, the Nets played two preseason games at the Prudential Center, while considering a possible move there. After the success of the preseason games at the Prudential Center, the Nets finalized a deal to move to the Prudential Center. The team played for two seasons at the venue before the Barclays Center was completed in 2012 and the team officially relocated to Brooklyn. The final NBA event at the Prudential Center before the Nets' move to Brooklyn was the 2012 NBA Draft, held on June 28, 2012.
History of the New York Knicks
On September 26, 2013, the Knicks announced that they had replaced GM Glen Grunwald with former MSG president Steve Mills. On March 10, 2014, the Knicks announced that they had purchased an NBA D-League team that would play in White Plains at the start of the 2014–15 NBDL season. "Forbes" magazine released its franchise value rankings for NBA teams on January 22, listing the Knicks as the world's most valuable basketball organization at $1.4 billion, edging out the Los Angeles Lakers by $50 million. The Knicks were valued at 40% more than the third-place Chicago Bulls valuation of $1 billion, and were valued nearly twice as highly as their crosstown rivals, the Brooklyn Nets, who came in at $780 million.