It’s long been reported, but it appears official: Mikhail Prokhorov, after buying 80 percent of the Brooklyn Nets and 45 percent of Barclays Center operations in 2010, will now become the principal owner of both companies.
Via Bloomberg’s Scott Soshnick:
BREAKING: @NBA approves ownership transfer of @BrooklynNets/ @barclayscenter to Prokhorov, source says. Valuation of $1.9 billion #sportsbiz
— Scott Soshnick (@soshnick) December 16, 2015
$1.9 billion puts the Nets & Barclays Center at just under the valuation of the Los Angeles Clippers, who were bought by Steve Ballmer for an even $2 billion. It’s not immediately clear what part of the $1.9 billion valuation refers to the Nets, and what part refers to Barclays Center.
Spokespersons for Forest City Ratner and the Brooklyn Nets declined comment.
Full ownership for Prokhorov could mean a number of things. It makes it easier for Prokhorov to sell off minority stakes in the team to interested parties. It also allows him to sell his entire 100% stake should he choose to move on.
Bloomberg — NBA Approves Nets Transfer to Prokhorov at $1.9 Billion
