Posted on 01/14/2015 7:43:10 AM PST by C19fan
The Russian billionaire who owns the Brooklyn Nets has decided to sell the NBA team amid concerns about its financial losses and performance on court, according to reports. Mikhail Prokhorov, 49, has apparently retained investment adviser Evercore Partners to sell his share of the basketball franchise, which he bought for a staggering $223million in May 2010. The businessman, who is worth an estimated $11.1billion, currently holds 80 per cent of the Nets, as well as 45 per cent of the Barclays Center, the club's two-and-a-half-year-old arena in New York. Of these, only the team is for sale, two sources close to the matter told Bloomberg News.
(Excerpt) Read more at dailymail.co.uk ...
Prokhorov should take a clue from Donald Sterling and make a comment about “them people”.
His asking price will double.
The NBA has become a thug sport, no longer mainstream. After the theatrics against Serling (in a failed attempt to shift to black ownership) any billionaire white owner who has an NBA team as his favorite toy would reconsider, I’d think.
Or perhaps he is concerned about his own finances tanking along with the Russian ruble.
The NBA is a financial Ponzi scheme. This Russian is very clever to cash out.
His fortune is probably in danger due to the reckless foreign policy of arch criminal and president for life Putin, who apparently thinks he can wage an undeclared war on Putinstan’s peaceful neighbors if they don’t do what he says. Putin thought he could do it without repercussions. Now, even his cronies are paying a big price for Putin going rogue.
Give ya 10 bucks.
Prokhorov, one of the world’s richest men, is also said to be concerned about the Nets’ performance on court. The team is currently in last place in the NBA Eastern Conference, with a record of 16-22.
What i get out of this article is the Knicks are so bad they’re not included in the Eastern Conf any longer.
http://www.pbs.org/wgbh/pages/frontline/putins-way/
So now does that mean Jay-Z and Beyonce will own the team?
16-22? That would be good enough to make the playoffs in the Eastern Conference.
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