History of the Brooklyn Nets
After the dismissal of major pending lawsuits, groundbreaking for Barclays Center occurred on March 11, 2010.
On September 26, 2011, Jay-Z, the Nets' minority owner, announced that the team's new name after the move to Brooklyn would be the Brooklyn Nets. The team officially became the Brooklyn Nets on April 30, 2012. The team's new colors were announced to be black and white, and two official logos designed by Timothy Morris were unveiled. The primary logo is a shield depicting the team name 'Nets', along with a basketball with an overlaid "B". The secondary logo is the same "B-ball" surrounded by a black circle with the text "Brooklyn" and "New York". The new logo's typeface and colors are meant to evoke New York City Subway rollsigns from the 1950s when Brooklyn last had a major league sports team. This rebranding of the team led to a dramatic increase in merchandise sales for the team. On the first two days that the new merchandise was available, total sales from the NBA Store were 10 times that of a typical year when the team was in New Jersey, and in the initial months of the 2012–13 season, the Nets led all NBA teams in apparel sales.
History of the Brooklyn Nets
Also, Rod Thorn, the team's long-time president who built the successful Nets teams of the early 2000s, resigned on June 25, 2010. In July, Billy King was named as his replacement.
The Nets started their first season in Newark poorly. Part of the reason was the distractions created by trade rumors regarding Carmelo Anthony, who many presumed wanted to leave the Denver Nuggets. With the entire team except Brook Lopez, Sasha Vujacic and Jordan Farmar rumored to be part of a proposed trade for Anthony at some point, the team struggled to a 17–40 record at the All-Star Break, when Anthony was finally traded to the cross-river rival New York Knicks. However, a week later, on February 23, 2011, the Nets made a surprising trade for All-Star point guard Deron Williams. The trade sent Devin Harris and rookie Derrick Favors to the Utah Jazz along with draft picks from the Golden State Warriors and cash considerations. The team went on to lose the first three games with Williams in the lineup, and then win five straight. However, Williams was hampered by a wrist injury that forced him to sit for most of the last games of the season; they won two more games, and finished with a 24–58 record.