Miami Gardens to add new home for Fran Tarkenton, Fran Tressells, Kevin Garnett

Miami Gardens announced Friday that it has agreed to sell its majority stake in the Brooklyn Nets, bringing to a close a six-year deal between the two franchises.

The Miami Gardens, a major developer of sports teams including the Miami Heat, Miami Marlins and Florida Panthers, said it was closing its books at midnight Thursday.

The company said that it had not been able to negotiate a buyer for its majority interest in the Nets, which have struggled in recent years to win back the attention of a fan base that has long been frustrated by the lack of a viable franchise in Brooklyn.

The Nets are led by Brooklyn Nets owner Mikhail Prokhorov, who had been under pressure to sell in recent months.

But he has been reluctant to do so because of the team’s financial struggles and because the league has made clear it will not tolerate any team failing to deliver on the team-friendly terms of a new lease.

The deal was announced in a statement on Twitter by Mark Zandi, the chief operating officer of the New York office of the investment bank Morgan Stanley.

It said the transaction would create a more integrated sports and entertainment portfolio for Miami Gardens and its other businesses.

“Today’s announcement is a significant step toward our ultimate goal of becoming a destination destination for sports and events across the globe,” Zandi said in the statement.

“We look forward to working with the owners of the Nets and the Miami Gardens family to achieve our shared vision for the future of Miami Gardens.”

The new Miami Gardens is expected to be a multi-purpose complex with offices for the team, Miami Gardens’ real estate arm, the team hotel, its restaurants, a museum and the Gardens of Babylon.

The NBA announced earlier this month that the league had awarded a three-year, $12 million lease extension to the Nets to help them reach the financial benchmarks needed to continue playing in Brooklyn for at least two more seasons.

The announcement by Miami Gardens came as the Nets were preparing to announce their first major free agency signing, guard J.J. Redick.

Redick was an undrafted free agent who averaged 13.3 points and 8.3 rebounds per game last season with the Houston Rockets.

He played for the Brooklyn Cavaliers last season and will compete for a starting spot with DeMarre Carroll and Brook Lopez, the Nets’ top two big men.

The two teams are currently in the midst of a 10-game homestand that begins Wednesday in New York.

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