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About DDDB
Our coalition consists of 21 community organizations and there are 51 community organizations formally aligned in opposition to the Ratner plan.

DDDB is a volunteer-run organization. We have over 5,000 subscribers to our email newsletter, and 7,000 petition signers. Over 800 volunteers have registered with DDDB to form our various teams, task-forces and committees and we have over 150 block captains. We have a 20 person volunteer legal team of local lawyers supplementing our retained attorneys.

We are funded entirely by individual donations from the community at large and through various fundraising events we and supporters have organized.

We have the financial support of well over 3,500 individual donors.

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"Why should people get to see plans? This isn't a public project."
Bruce Ratner in Crain's Nov. 8, 2009

Owning the Nets Isn't So Cool Anymore

It's not so cool any more to overpay for and own a sports team, as Bruce Ratner is finding out with his dismantled and struggling New Jersey Nets franchise:
Off-the-Field Losses Crimp Team Owners
Prestige of Owning Sports Franchise Is Lost When a Principal Business Struggles Along With Athletes

By Matthew Futterman. The Wall Street Journal

For all the talk of slumping ticket sales and sponsorships, the most troubling scenario for the sports industry is the growing trend of team owners beset by financial problems in their principal businesses.

The issue crystallized last month when Tribune Co., owner of the Chicago Cubs, filed for bankruptcy-court protection. The problems have been spreading as the souring economy diminishes the fortunes of team owners. That jeopardizes the essential ingredient of the sports business: rich people who can afford a really expensive hobby.

"The willingness or tolerance for future losses is very, very low," says Allen and Co.'s Steve Greenberg, an investment banker to the sports industry and former deputy commissioner of Major League Baseball. "More owners are looking to operate at break-even or better. The problem is, it's hard to turn a $15 million to $25 million loss into break-even in a short period of time."

Unlike other recessions, this one threatens to wipe out sports owners who were recently willing and able to put up with meager profits or annual losses because of rising team values and the perks of the investment, such as the celebrity status.

The Cubs and Red Sox are profitable. For owners of franchises that are unprofitable, slumping team revenue and the recession are a discouraging combination.

"The 401(k)s and their equivalents that belong to these owners are cut in half like everyone else's," says David Carter, director of the sports-business program at the University of Southern California. "Their ability to secure financing and continue operating is going to get hurt."

Also feeling the crunch is Forest City Enterprises Inc., the real-estate developer behind Bruce Ratner, principal owner of the National Basketball Association's New Jersey Nets. The company said last month it was ceasing all development projects, after its stock price fell from $60 in 2007 to under $6.

Forest City, which owns 23% of the Nets, pegged losses for the team at $30 million through the first nine months of 2008. The Nets have lost more than $100 million since Mr. Ratner acquired the team in 2004, forcing him to slash payroll.

Forest City still wants to develop a $950 million arena in Brooklyn for the Nets, but the project is stalled amid legal wrangling and financing problems.

NBA Commissioner David Stern says Forest City's ability to secure financing for the arena is hampered now, adding: "Our hope is that will improve in 2009."

Full article.

Hope won't get you a tax-exempt bond for a billion dollar white elephant arena in the midst of a neo-depression, or turn a struggling, money-losing basketball franchise into a money-making one.

That's why Bruce Ratner's frivolous billion dollar arena must be jettisoned so Brooklyn can move on with affordable housing built over the Vanderbilt Rail Yard.

Posted: 1.02.09
DDDB.net en español.
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Eminent Domain Case
Goldstein et al v. ESDC
[All case files]

November 24, 2009
Court of Appeals

[See ownership map]

EIS Lawsuit

DDDB et al v ESDC et al
Click for a summary of the lawsuit seeking to annul the review and approval the Atlantic Yards project.

Appeal briefs are here.

Appellate Divsion
Rules for ESDC
What would Atlantic Yards Look like?...
Photo Simulations
Before and After views from around the project footprint revealing the massive scale of the proposed luxury apartment and sports complex.

Click for
Screening Schedule
Isabel Hill's
"Atlantic Yards" documentary
Brooklyn Matters

Read a review
Atlantic Yards
would be
Click image to see why:

-No Land Grab.org

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