Nets vs Miami Heat
From ABA champions to NBA merger: the Nets' costly entry into the league.
The Brooklyn Nets, a professional basketball team based in the New York City borough of Brooklyn, were founded in 1967 and initially played in Teaneck, New Jersey, as the New Jersey Americans, followed by a period spent in Long Island as the New York Nets and later returning to play as 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, the team moved to Brooklyn and were renamed the Brooklyn Nets.
Quick Facts
- Conference
- Eastern
- Peak era
- Early to Mid-2010s
- Notable series
- 2014 Eastern Conference Finals
- Heat championships
- Won during this era (2012, 2013)
- Nets status
- Active franchise, no titles won
Lore & Background
The franchise was established in 1967 as a founding member of the ABA. After the ABA–NBA merger, the Nets were forced to pay an additional $4.8 million 'invasion fee' directly to the Knicks as a condition of being allowed to share the New York area. Coming on the heels of the $3.2 million that the team had to pay for joining the NBA, this left owner Roy Boe short of cash, and he was forced to renege on a promised pay raise for Julius Erving. Erving refused to play for the Nets under these conditions and refused to report to camp. 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.
Reader's Guide
The Nets joined the NBA in 1976 as part of the ABA–NBA merger. Their first NBA season (1976–77) was a lost cause without Erving, and they finished at 22–60, the worst record in the league. The team moved back to New Jersey before the 1977–78 season.
Did You Know?
- Julius Erving was traded to the Philadelphia 76ers for $3 million because the Nets' owner could not afford his promised pay raise after paying the NBA merger fees and the Knicks' invasion fee.
- The Nets became the first NBA team ever to have an all-left-handed starting lineup in February 1977.
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