As part of their agreement to get out of the awful IZOD lease, the Nets abandoned their rights to New Jersey, just as the Knicks abandoned their rights to any NYC locale other than Manhattan, the Bronx (and Westchester). And just as the Nets didn't need to compensate the Knicks for the right to set up shop in Brooklyn (or Queens), a successor team in Newark won't need to compensate the Nets for right to set up in Newark or any other location...not that the NBA is going to put a third team in NJ. I would also suggest double-checking on the Islander rights. I have been told a completely different story, that the Islanders could move to Brooklyn without compensation to the Rangers. However, the point is moot. With the downsizing of Barclays Center in 2009, there is little room for an NHL franchise. The max capacity of the new arena for hockey is a paltry 14,500, considerably less than the Nassau Coliseum. In addition, the sightlines for the best seats in the arena are not optimum for hockey. There is no way the NHL or its owners would permit such a small capacity arena...no matter how new or now well located.