According to sources close to ESPN, Brooklyn Nets CEO Brett Yormark is resigning from his position after more than a decade with the team.
Nets CEO Brett Yormark will step down after serving team for over a decade, per @TimBontemps pic.twitter.com/go1xqLDFxl
— Bleacher Report NBA (@BR_NBA) August 16, 2019
Yormark came to the Nets in 2005 from NASCAR and played a significant role in moving the franchise to Brooklyn. Although Bruce Ratner was the Nets owner at the moment Yormark joined, he continued to serve as a CEO under the ownership of Russian billionaire Mikhail Prokhorov over the past nine years.
However, Prokhorov is set to sell the final 51% of the Nets, and also, the Barclays Center to businessman Joe Tsai, meaning that Yormark’s time with the franchise is coming to an end as well. Yormark, just like Prokhorov, will always be remembered for playing a role in getting the Nets across the Hudson River and into Brooklyn, a move that dramatically raised the franchise’s profile. Brett also played an important part in the team’s, aggressive style early in its time in Brooklyn. This approach led the Nets both to spend record amounts of luxury-tax money and to put the team in a massive hole in terms of draft capital. That occurred because of the misjudged trade with the Boston Celtics in 2013, in which the Nets got veterans, Kevin Garnett and Paul Pierce.
Don't be surprised if Brett Yormark resurfaces in boxing. Yormark made boxing a priority at Barclays Center, and enjoys a strong relationship with PBC. https://t.co/0bZHjg4gRI
— Chris Mannix (@SIChrisMannix) August 16, 2019
Now, it is time to move on for both Prokhorov and Yormark, and with Tsai set to become a new owner, exciting times are ahead of the Brooklyn Nets.
