The New Jersey Nets are a professional basketball team in the National Basketball Association that plays in the Eastern Conference's Atlantic Division. They are currently based in East Rutherford, New Jersey. The team was founded in the year 1967. The team is currently owned in a partnership of Bruce Ratner, Mary Higgins Clark and Shawn Jay-Z Carter. Lawrence Frank is the head coach of the present team. Navy, Red, Dark Silver and White are the official colors of the team. The franchise was a part of the American Basketball Association (ABA) before its merger with the NBA.

In the 1973-74 season the Nets acquired Julius Erving from the Virginia Squires. With Erving, who was affectionately known as "Dr. J", the Nets ended the season with a franchise record 55 victories. After Erving was voted the ABA's Most Valuable Player (MVP), the Nets advanced in the playoffs and won their first title, defeating the Utah Stars in the 1974 ABA Finals.

The success continued into the 1974-75 season as they topped the previous season's win record by winning 58 games - a record that still stands to this day. But the Nets were eliminated four games to one, by the Spirits of St. Louis in the first round of the 1975 ABA playoffs.

The Nets continued their winning streak in the 1975-76 season-the final season for the ABA, with Erving leading them to a successful 55-win season. He also was named MVP again that year. After a breath taking series with the Denver Nuggets, the Nets won the last ABA championship series in league history in six games, giving the Nets their second championship in three years.

During the early 1990s the Nets began to improve on a whole new set of young players, as New Jersey drafted Derrick Coleman and Kenny Anderson and acquired Drazen Petrovic in a trade with the Portland Trail Blazers. Despite a losing record during the 1991-92 season, the Nets qualified for the playoffs, but went down losing to the Cleveland Cavaliers in the first round, three games to one.

Izod Center is the place where the Nets play all their home games. The arena has a maximum capacity of 20,049. Nate Archibald, Rick Barry, Julius Erving and Drazen Petovic are few of the players who have played for the Nets one time or the other and have found their name in the Hall of Famers.

In the 2007-08 season the Nets were seeded at 4th position of the Eastern conference. The Nets won only 34 games at the end of the regular season and did not qualify for the playoffs.

Major achievements
1 ABA Division title
4 NBA Division title
2 Conference title (2002, 2003)
2 ABA league championships (1974, 1976)