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Prokhorov has a plan, it involves making a lot of money in Brooklyn

Jul 28, 2010, 11:47 AM EDT

Thumbnail image for prokhorov.jpgMikhail Prokhorov is about making money. Do not ever forget that.

He’s also good at it. He has a plan. Prokhorov spoke with Forbes Russia and laid out his plans (which the New York Daily News translated):

“When you’re talking about the business of sports, you can’t leave out passion and love. That’s why, in this business in particular, I need to be maximally careful, so that my passion and love for basketball don’t interfere with my business reasoning. It has to do with balancing my own internal interests and here I will be very self-discipline.”

“I hope that this asset, which I bought for $200 million, will be worth at least $1 billion in five years. We got in at the right time.”

It’s always about the money. And that doesn’t sound like a guy who is going to spend like mad, by the way.

His plan is all about Brooklyn.

“Brooklyn is a country unto itself. Even the Americans themselves say that. It’s the center of immigration. It has a unique energy to it. Tens of millions of people who now live in the US came through Brooklyn.

“When I’ve traveled around to different cities, people have come up to me and said, ‘We’re Brooklynites. Give us a great Nets team and we’ll root for them.'”

“The structure of the deal is such that, before the move to Brooklyn, we plan to have a certain budget deficit. That’s built in. But from the time we move to Brooklyn, the team becomes profitable.”

Brooklyn is a country unto itself. In two years, I will be using that phrase constantly. Trust me.

  1. Bobbo - Jul 28, 2010 at 12:19 PM

    Daily News didn’t translate the article. His P.R. operation in Moscow did and then distributed the best quotes.
    There seems to be a disconnect here. Prokhorov is talking about his $200 million investment in the Nets being worth a billion dollars in 2015. Not a big leap of faith if you consider that as part of that $200 million investment, he acquired 45% of the billion-dollar Barclays Center and has a deal with Bruce Ratner that permits him to acquire up to 80% for another $40 million and some construction financing. Moreover, as part of his $200 million purchase price, he also got an option to buy 20% of the entire, $6 billion, Atlantic Yards project, again at a bargain price.
    Mikhail Prokhorov is worth $17.8 billion. He didn’t get there by being stupid.

  2. Kato - Jul 29, 2010 at 2:28 AM

    This is mainly for the NY Knicks fans. You guys did not get a super star when you got Amare. He can score 18-20 points a game but he cant defend anyone. He also cant buy a offensive rebound when needed and thats at the end of a game nor can he get a defensive rebound at the end of a game when needed to win or tie the game. He played for Dantoni in Phoenix and was only good on offense. In 8 yrs with the Suns I doubt that he hit any game winning shots at the end of close games. Nash fed Amare to get his 20 points a game. If Amare had to rebound to get his points he would not average 20. Amare will impress the fans for awhile on his dunks but thats only for awhile. Once they find out that he cant defend anyone or get critical rebounds in close game the fans will be all over Amare and so will the local press.

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