Well that was quick. Only four years into his ownership of the Brooklyn Nets,Russian billionaire Mikhail Prokhorov is ready to sell. After purchasing the franchise in 2010 for $200 million, two sources close to the matter told Bloomberg News that the Nets are now on the open market again. Prokhorov owns 80 percent of the team and 45 percent of the Barclays Center. Only the team is for sale.
— Scott Soshnick (@soshnick) January 13, 2015
Maybe Prokhorov noticed that the team gave away their future for Kevin Garnett and Paul Pierce, a move that yielded one playoff series victory. Not a bad deal for three-first round picks right? Only a true imbecile will think that was a great deal. Apparently Prokhorov is no imbecile.
So how much do the Nets sell for? The Los Angeles Clippers, the western equivalent to the Nets, went for $2 BILLION. They also have Blake Griffin and Chris Paul. The Nets? They have “Average” Joe Johnson, Deron Williams and Brook Lopez. Did I mention they gave away three draft picks for two old veterans and one already jumped ship? Yikes. Yikes. Yiiiiikes.
Aside from the Barclays Center and color scheme the Nets don’t have much going for them. With the Atlanta Hawks also on the open market the Nets aren’t even the most enticing team to purchase. Even on the open market they play second fiddle. Still, someone is going to eventually buy this team and pay a ransom–the team was valued at $1.3 billion by valuations expert Peter Schwartz.
One buyer no Nets fan wants to hear is San Francisco hedge-fund millionaire Chris Hansen who is intent on bringing back the Seattle Supersonics. He recently tried to purchase the Sacramento Kings, Milwaukee Bucks and probably has interest in the Hawks. Giving that Prokhorov has substantial stake in the Barclays Center I doubt Hansen would be the guy he wants to sell to, but everyone knows money talks.
Stay tuned for further developments.