History of the Brooklyn Nets
The Brooklyn Nets, a professional basketball team based in the New York City borough of Brooklyn, was founded in 1967 and initially played in Teaneck, New Jersey, as the New Jersey Americans, later the New Jersey Nets. They are a member of the Atlantic Division of the Eastern Conference in the National Basketball Association (NBA), as well as an original member of the American Basketball Association (ABA). In 2012 they moved to Brooklyn and were renamed the Brooklyn Nets.
History of the Brooklyn Nets
The Nets offered Erving's contract to the Knicks in return for waiving the indemnity, but the Knicks turned it down. When the Philadelphia 76ers offered to acquire Erving for $3 million—roughly the same amount they had to pay for NBA membership—Boe had little choice but to accept. In essence, the Nets were forced to trade their franchise player for a berth in the NBA.