The Brooklyn Nets ended their three-game losing streak last night with a 116-115 win over the Charlotte Hornets. They also faced trade rumors regarding their team’s leading scorer, Cam Thomas. With so many trade rumors, we need to look at why Joe Tsai, the Nets owner, should accept recent headlines.
Why Nets Owner Joe Tsai Should Accept Recent Headlines
Entering the 2024-25 Season
The Nets have been one of the most rumored teams in the NBA to reset into a full rebuild. This is due to recent years of playoff losses and large contracts. Coming into the season, the team planned to acquire as many draft picks as possible and regain leverage in the upcoming drafts for years to follow.
With all the rumors, one has to wonder what Nets owner Joe Tsai is considering. Should he accept recent headlines and approve to move forward on trades?
In October 2017, Tsai purchased a 49% stake from Russian billionaire Mikhail Prokhorov. The deal valued the Nets at $2.3 billion. In August 2019, Tsai exercised his option and bought the Nets arena from Prokhorov for nearly $1 billion in a separate deal. Tsai has witnessed his team go through both good and bad times. Recently, his team has made headlines about another rebuild. The Nets would regain draft picks if they traded players listed on the trade block.
Financial Loss and Headlines
As the team rebuilds, Tsai faces a major loss. This is due to the numerous contracts and max contracts he has invested in over the years. Since 2020, Tsai’s team has frequently made the front pages of New York City newspapers. His dream to create a championship team with superstars James Harden, Kyrie Irving, and Kevin Durant ultimately failed. The three only played 16 games together and were traded in 2022 and 2023.
Irving was signed to a four-year, $136.5M contract, but missed many games due to COVID-19 mandates and various other factors. Durant was signed to a four-year, $164M deal in a sign-and-trade with the Golden State Warriors for D’Angelo Russell. He missed games due to injuries. The trust in the team disintegrated, and Durant asked to be traded.
Tsai approved Harden’s trade to the Nets in a three-team deal involving the Houston Rockets and Cleveland Cavaliers. The Nets traded away Jarrett Allen, Taurean Prince, Caris LeVert, Rodions Kurucs, three first-round draft picks, and four first-round pick swaps to the Rockets. The Rockets also received Dante Exum and a 2022 first-round draft pick in that trade.
Nets Owner Should Accept Recent Headlines
The rumors about the Nets being in a full rebuild are no surprise to any Nets fan. The team’s General Manager, Sean Marks, has made it clear that a second rebuild during his tenure will happen soon. For now, the Nets are dealing with the consequences of previous years’ trades and contracts. Tsai has to accept recent headlines and be patient during the full rebuild while Marks tries his best to acquire as many picks as possible to create a future for the Nets. Building through the draft should be the way to go after the superstar route failed miserably for Brooklyn.
