Rowe resigns as president of Nets

Michael Rowe resigned as president and chief operating officer of the National Basketball Association's New Jersey Nets today after the team missed the playoffs for the second straight year.

The much-anticipated move came just six days after coach Don Casey was fired following an injury-plagued season that saw the Nets post a 31-51 record.

It marked the 12th time that New Jersey had lost at least 50 games in a season since joining the NBA for the 1976-77 season.

Rowe, however, won't be leaving the Nets totally. He will remain with YankeeNets, the sports and entertainment operation that oversees the team, taking an unspecified position with Newark Sports and Entertainment. That division will oversee the new arena and entertainment facility in the state's largest city.

The proposed arena will be the new home of Nets and the NHL's New Jersey Devils, which is in the process of being purchased for dlrs 175 million by a subsidiary of YankeeNets.