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Mikhail Prokhorov refutes report, says he is not selling Nets

Jun 15, 2014, 5:00 PM EDT

Mikhail Prokhorov Mikhail Prokhorov

You can be sure that after the Los Angeles Clippers price tag was $2 billion, a number of NBA owners took a step back and thought about how much they could make selling their team. You can be sure a few of them listened to offers.

That’s different from selling.

A report came out Saturday saying Nets owner Mikhail Prokhorov was entertaining offers for the Nets, but the Russian billionaire said “nyet” in a statement, as reported at the New York Post.

“We have no interest in selling the team,” Prokhorov said in a statement….

It has been public knowledge that Bruce Ratner, who owns up to 20 percent of the team, has been looking to sell. Plus there are about 100 other minority owners. After the Clippers mess broke, people wanted to know what they had.

One thing to remember is that for Prokhorov and Ratner this is more than about owning the team and Barclay’s Center, they are the driving financial forces behind new housing and restaurant/shopping plazas going around Barclays. This is a real estate play, with the new arena and the Nets (and in a couple years the NHL’s Islanders) as the anchors that bring people and energy to the area.

That doesn’t mean one or the other will not sell, but Prokhorov may not be in a rush.

  1. mackcarrington - Jun 15, 2014 at 6:34 PM

    The only way any other team would net that kind of money is if they were to be sold in the same manner as the Clippers.
    A blind auction with a limited time frame.

    • chicagosports2014 - Jun 15, 2014 at 7:10 PM

      This looks real good for the free agents this summer. FROM THE MAN WHO PERDICTED A CHAMPIONSHIP IN BROOKLYN

  2. dondada10 - Jun 15, 2014 at 11:14 PM

    I don’t know how much the residents of the Flatbush section of Brooklyn really appreciate the Barclay’s Center. Yes, it has been an economic boon the the area. The problem with that is that Flatbush is finding itself becoming more and more Park Slope, which is very much unaffordable for those citizens.

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