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Russian Oligarch Wants To Sell Brooklyn Nets, Sources Say
By
Jen Chung
Published Jan 13, 2015
Modified Jan 13, 2015
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By
Jen Chung
Published Jan 13, 2015
Modified Jan 13, 2015
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Russian billionaire playboy Mikhail Prokhorov is getting tired of his little basketball team: Bloomberg News reports that he "retained Evercore Partners to sell the National Basketball Association team he bought in 2010, according to two people with direct knowledge of the matter. The people requested anonymity because the matter is private."
Nets Daily points out, "Evercore previously—and without success—has tried to sell Bruce Ratner's minority stake in the team," and got this statement from a Prokhorov spokesman, "As we have said for many months, ownership is always open to listening to offers—that’s just good business. There is nothing imminent in terms of a sale of any stake in the team."
Yahoo Sports! reiterates that Prokhorov is just listening to offers, because it could be worth a lot:
Part of Prokhorov's willingness to listen has come out of his company's curiosity of how much his ownership share of the Nets and the Barclays Center could fetch on the market, league sources said
After the Sterling Family Trust sold the Clippers for $2 billion to Steve Ballmer, Prokhorov and his associates believe the combination of the Nets and Barclays Center major market location could net in the neighborhood of the Clippers sale, sources said. Less than five years ago, Prokhorov bought the Nets and a percentage of Barclays Center for $223 million.
Remember, back in 2010, Prokhorov said, "For those who are already fans of the Nets and the NBA, I intend to give you plenty to cheer about."
Well, I went to last night's Nets games against the Houston Rockets and all I got was Kevin Garnett getting ejected for headbutting Dwight Howard:
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Jen Chung
Jen Chung is a former WNYC and Gothamist editor.
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Gothamist is funded by sponsors and member donations
Gothamist is funded by sponsors and member donations
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