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11-01-2003, 04:34 PM
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Join Date: May 2003
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Originally Posted by CREW99AW

Charles Wang, the former Computer Associates chairman who is bidding to buy the New Jersey Nets basketball team, has put up more than 5.2 million CA shares to secure two loans from CA's largest shareholder, Swiss billionaire Walter Haefner, according to financial filings.

Wang is attempting to expand a sports empire that includes the Islanders hockey team and the Dragons arena football franchise. Part of the plan includes an enlarged and costly sports complex that would be financed, in large part, by Wang.
Acquiring the Nets is a pure 'new coliseum' move my Wang. However, if he thinks that the Nets will draw on LI when the NYI are averaging 11,000, wait until he tries to sell Nets basketball. Nets attendance will be 'recreational' for fair-weather "don't wanna take the LIRR to the city" LI knicks fans.

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