Is Russian billionaire Mikhail Prokhorov considering selling his Brooklyn Nets?
Yahoo! Sports is reporting that Prokhorov, who bankrolls the team with the highest-payroll in the NBA, is listening to overtures from prospective buyers after the Los Angeles Clippers set a league record $2 billion selling price.
The Yahoo! Sports article said that a league official with direct knowledge of the issue indicated that Prokhorov has not yet indicated a desire or willingness to sell. "Just listening so far," the article quoted the source as saying.
The source added that Prokhorov is intrigued by the amount that his ownership share of the Nets and the Barclays Center would command on the market. The Russian billionaire owns 80 percent of the Nets and 45 percent of the arena where the team plays. It is believed that Prokhorov and his team foresee the two assets to sell somewhere in the vicinity of the Clippers sale.
About five years ago, the Russian bought both assets for $223 million, when the team was playing in New Jersey. Starting next year, the New York Islanders of the National Hockey League will play its home game at Barclays Center.
It remains to be seen whether the Nets' playoff failure will prompt Prokhorov to give up his ownership of the team. The Russian billionaire has publicly stated his desire to build a championship team in Brooklyn to the point of raising the team's salary to a league-record $190 million. Still, the team with the highest roster payroll in the league failed to advance past the second round in the East this year, falling to the Miami Heat in five games.
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