Jun 1, 2014, 11:07 AM EDT
Lewis Katz, the owner of the New Jersey Nets during the Jason Kidd era when the team went to two consecutive NBA Finals, has died in a plane crash in Massachusetts.
Katz was best known recently as the owner of The Philadelphia Inquirer, The Daily News and philly.com — earlier this week he and H.F. “Gerry” Lenfest had spent $88 million to buy out their other partners in the media companies and take full control of the papers and online entities.
All seven people were killed aboard the private aircraft that crashed at Hanscom Field and erupted into a fireball, authorities said Sunday.
The Gulfstream IV crashed about 9:40 p.m. Saturday as it was departing for Atlantic City International Airport in New Jersey, said Matthew Brelis, a spokesman for the Massachusetts Port Authority, which operates the air field.
Katz grew up in Camden, New Jersey, and went to Temple University in Philadelphia. He made most of his money first investing in the large Kinney Parking empire then investing in the Yankees Entertainment and Sports Network (YES Network) in New York, which to this day still carries the Nets games.
Katz bought the Nets in 1998 for what is believed to be $150 million and he owned the team for six seasons — but those were the best six seasons in Nets history. Well, it didn’t start out that way, the first year he owned the team the Nets won 16 games (in the strike-shortened 50 game season) and fired John Calipari after a 3-17 start. That Nets team was led by a young Stephon Marbury and Keith Van Horn. With much the same roster they won 34 then 26 games the next two seasons.
In 2004, Katz sold the Nets to Bruce Rattner — the man with the dream and plan to move the team to Brooklyn — for $300 million.
Our thoughts are with the family and friends of Katz.
Sep 3, 2015, 5:09 PM EDT
The trade speculation around him is not based in reality.
Sep 3, 2015, 4:14 PM EDT
Moreland was reportedly considering Pistons and Lakers
Sep 3, 2015, 3:21 PM EDT
Weird or nah?
Sep 3, 2015, 2:21 PM EDT
Cavaliers craft unusual contract to give Smith a partial guarantee next season
Sep 3, 2015, 1:23 PM EDT
Former Knick and Raptor had hip surgery
Sep 3, 2015, 12:28 PM EDT
Nets are reportedly valued at $700 million
Report: J.R. Smith’s contract has less guaranteed money over two years than player option would’ve presented over one
Sep 3, 2015, 11:28 AM EDT
Smith’s deal full of incentives
Sep 3, 2015, 10:29 AM EDT
Thompson reportedly waiting for a max contract
Sep 3, 2015, 9:30 AM EDT
Memphis mum on when rookie will return
Sep 3, 2015, 8:32 AM EDT
Will he and Rick Carlisle get along?
Sep 3, 2015, 8:00 AM EDT
He will be remembered as a Celtic, but Los Angeles is his hometown.
Sep 3, 2015, 12:10 AM EDT
These are just classic.
Sep 2, 2015, 10:30 PM EDT
He’s making $1.5 million less than if he opted in this season, but he does have another year.
Sep 2, 2015, 9:30 PM EDT
With the additions to the Celtics’ roster, this is the smart play.
Sep 2, 2015, 8:31 PM EDT
He could be back on the court around Thanksgiving, if a team picks him up.
Sep 2, 2015, 7:30 PM EDT
It’s not unreasonable.
Sep 2, 2015, 6:31 PM EDT
Don’t bring a loaded Glock to an airport, people. It’s pretty much common sense.
Sep 2, 2015, 5:38 PM EDT
Expect the Mavericks to be cautious with his return.
Sep 2, 2015, 4:59 PM EDT
Best ever little guy? Calvin Murphy is in the HOF, so he’s the man.
Sep 2, 2015, 4:13 PM EDT
It won’t be called Seagull Kneivel
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