Brooklyn developer Bruce Ratner has reached an agreement to buy the New Jersey Nets, a team official said.

Edwin Stier, president of Community Youth Organization, which owns the Nets, said the contract was finalized yesterday afternoon. He said the board of YankeeNets, the holding company of the Nets and New York Yankees, must now approve the contract at a meeting this morning.

Ratner, the developer of Brooklyn's 16-acre MetroTech Center, plans to move the Nets to a new arena at the center of a $2.5 billion office, residential and shopping complex in Brooklyn. The holding company is on the verge of being dissolved.

Other news

Cavaliers F Darius Miles, fined for oversleeping and skipping a practice earlier this week, was traded to the Trail Blazers for G Jeff McInnis and C Ruben Boumtje-Boumtje.

Raptors F Michael Curry will be out indefinitely after having right elbow surgery next week.

Last night's games

Timberwolves 108, Raptors 97: Sam Cassell had 30 points and 13 assists to lead visiting Minnesota to a victory against Toronto, the Timberwolves' seventh win their past eight games. Kevin Garnett had 28 points and 11 rebounds, and Latrell Sprewell added 24 points for Minnesota, 19-4 in its past 23 games. Donyell Marshall had 22 points and Milt Palacio added a season-high 18 for the Raptors, who have lost three in a row with star Vince Carter out with a sprained right quadriceps.

Hawks 97, Bulls 87: Shareef Abdur-Rahim scored eight points in an 11-0 run in the final 3:36 and host Atlanta beat Chicago to move out of the Central Division cellar. Stephen Jackson scored 22 points for the Hawks. Abdur-Rahim finished with 22 points and 11 rebounds, and Theo Ratliff scored 15 points. Jason Terry moved into 10th place in Hawks history in career assists, surpassing the 2,000 mark and moving past Bill Bridges.

Tuesday's late games

Derek Anderson scored all 12 of Portland's points in overtime and finished with a season-high 29 points in its 109-104 win against host Sacramento. ... Antoine Walker scored 19 of his 22 points in the second half and Dirk Nowitzki added 19 and beat visiting New Jersey, 106-93. ... Voshon Lenard scored 17 points, Carmelo Anthony had 14 and Denver gave host Utah its first three-game losing streak of the season with a 96-75 victory.