Brett Yormark, the lead executive for the Nets and Barclays Center, is stepping down as the team’s top executive ahead of an impending ownership change that will see Taiwanese businessman Joseph Tsai become the franchise’s owner, reports Scott Soshnick of Bloomberg.
According to Soshnick, Yormark will announce he’s resigning as CEO of BSE Global, the Nets’ parent company, Friday morning. Yormark was an important figure in the Nets’ move from New Jersey to Brooklyn in 2012 and the development of Barclays Center. For the past seven years, he has presided over all facets of the team and Barclays Center, including operations, events, sales and marketing.
Soshnick also notes that Yormark’s departure, alongside current majority owner Mikhail Prokhorov, makes sense because of how much Prokhorov entrusted operations to Yormark.
It’s unclear whether Tsai, who will likely want his own team put into place, would have given Yormack the control he desired.