PROKHOROV LOOKING TO SELL NETS/BARCLAYS CENTER FOR $2 BILLION

Nets owner Mikhail Prokhorov has placed a $2 billion price tag on his Brooklyn basketball franchise and their 5 year old arena, the Barclays Center. The Nets are looking for a Chinese buyer to purchase the team and reportedly had 20 meetings last month to gauge interest; though no price has been agreed to and no sale is imminent. The Los Angeles Clippers were the last NBA team to be sold. The L.A. based franchise went for an NBA record $2 billion back in 2014. The Nets are currently one of two NBA teams for sale, the other being the Houston Rockets.

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Mikhail Prokhorov Reportedly Hoped for $2 Billion Nets Sale

Howie Long-Short: Forbes values the Nets/Barclays Center at $1.8 billion. The Clippers sold for $2 billion and lease space at the Staples Center. The Lakers and Knicks aren’t hitting the market. There is no way the Nets aren’t going for $2 billion plus.

Fan Marino: As a Nets fan, I can’t complain about Prokhorov as an owner. He’s spent money trying to win. I do fault him for hiring Billy King.

Author: John Wall Street

At the intersection of sports & finance.

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