Nets owner Joe Tsai addresses 'embarrassing' reality of Knicks' championship run

The New York Knicks ended a 53-year championship drought in June, and Brooklyn Nets owner Joe Tsai has now spoken on what that felt like from the other side of the city. Tsai used the word "embarrassing" to describe the impact the Knicks' title has had on the Nets' fanbase, while making clear that it has not changed how he plans to run his franchise.

The Nets finished 20-62 last season, their third straight year out of the playoffs, and enter 2026-27 with one of the youngest rosters in the league. The timing of Tsai's comments puts the gap between the two New York franchises as one is parading through the Canyon of Heroes with a Larry O'Brien Trophy, the other is building toward a future that is still years away.

Joe Tsai Frustrated on Knicks Triumph

In a recent interview with Nets Daily, Tsai did not try to downplay the sting of watching the Knicks win it all.

"Every year, some team is going to win a championship," Tsai said. "So it happens that this year that team is in the same city. It doesn't make us feel very good. It irritates our fan base, and it is embarrassing. But in business or in competition, in sports, or in anything, you shouldn't let the embarrassment factor affect how you perform. [We] had a plan and we're rebuilding, and I think right now we are on a positive trajectory. So it doesn't change my thinking at all."

Tsai also said he remains focused on building the Nets' fanbase in a market that leans heavily toward the Knicks. The Knicks drew more than two million fans to their championship parade through Manhattan earlier this summer.

The Nets and Knicks will face each other four times in 2026-27, starting with a November 2 matchup at Madison Square Garden. For Tsai, those games represent something more than a division rivalry. They are a measuring stick for how far Brooklyn still has to go, and a reminder of what the franchise is ultimately building toward.

Knicks won the Championship, how close are the Nets?

The Nets have not made the playoffs since 2022-23, when they went 45-37 and were swept in the first round by the Philadelphia 76ers. Since then, the losses have piled up as the front office committed to stripping the roster and accumulating draft capital.

The pivotal move came in the summer of 2024 when the Nets traded Mikal Bridges to the Knicks, receiving a package of future first-round picks in return, including selections in 2025, 2027, 2029 and 2031 along with a 2028 pick-swap right. That trade effectively ended whatever short-term ambitions remained and set the rebuild in motion.

Last season, the Nets went 20-62, the third-worst record in the league. They entered the draft lottery with a 14 percent chance at the first overall pick and a 52 percent chance at a top-four selection, but slid to sixth and selected Louisville guard Mikel Brown Jr. Brown averaged 15 points in just under 22 minutes per game during the Summer League, though the Nets have been managing him carefully due to back issues.

General manager Sean Marks has pointed to the draft capital and cap flexibility as the foundation of what comes next. The Nets do not control their own first-round pick next season, but could have seven first-rounders across the following three drafts, along with significant cap space potentially opening up in the summer of 2028. Head coach Jordy Fernandez, who joined the staff this offseason, is tasked with developing a roster built around young players who have not yet established themselves at the NBA level.

Despite the successive losing seasons, ownership and the front office have framed the period as constructive. The accumulated draft assets and emphasis on young talent form the foundation of what Joe Tsai has described as a positive trajectory.

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