As if the crosstown rivalry wasn't enough with two neighboring states, the Nets are getting even closer to the Knicks turf by moving to Brooklyn.

"The current owners of the NBA franchise have told real estate developer Bruce Ratner that they intend to sell the team to his investors' group for about $300 million, according to Bloomberg News."

Newsday is also reporting that an announcement is imminent.

"New York City Mayor Michael Bloomberg and Deputy Mayor Daniel Doctoroff were informed that Ratner's group, which includes rapper Jay-Z, is getting the team, one of the people familiar with the negotiations told Bloomberg."

The Nets' lease at the Continental Airlines Arena expires in 2006.

Under the Brooklyn development plan, a purposed 19,000 seat arena would be ready by the 2006-2007 season.