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TRENTON, N.J. (AP) -- The sale of the New Jersey Nets brought the NBA team one step closer to returning to New York.

The move appeared imminent after Brooklyn developer Bruce Ratner reached an agreement Wednesday to buy the team. Ratner wants to move the team to Brooklyn, where it would play in a new, 19,000-seat arena he plans to build as part of a $2.5 billion office, residential and shopping complex.

The agreement between Ratner and Community Youth Organization, which owns the Nets, must be ratified by the board of YankeeNets, the holding company of the Nets and New York Yankees, at a meeting Friday morning. The sale price is believed to be around $300 million.
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