MSG3 wrote:http://knickerblogger.net/an-open-letter-to-new-nets-fans/

This is the only Knicks/Nets thing written that I really enjoyed in the past couple of months. Worth a read.

Thanks MSG3. Well written and on the money. Let's see how Prokhorov acts if the team fails to live up to expectations. I don't really care that a Russian billionaire is dissing an American one as much as Prokhorov is someone who hasn't done anything on the NBA stage that gives him the right to talk like he's a winner.

Nalod wrote:

GustavBahler wrote:

MSG3 wrote:http://knickerblogger.net/an-open-letter-to-new-nets-fans/

This is the only Knicks/Nets thing written that I really enjoyed in the past couple of months. Worth a read.

Thanks MSG3. Well written and on the money. Let's see how Prokhorov acts if the team fails to live up to expectations. I don't really care that a Russian billionaire is dissing an American one as much as Prokhorov is someone who hasn't done anything on the NBA stage that gives him the right to talk like he's a winner.

He already won. He owns a good chunk of the Real estate project and bought the team at a good price in the recession. He'll make a killing.

Dolan wins because financially mSG does well.

Fans lose because we measure the team by its on court results.

No championships in nearly 40 years. Dolan has been at the helm since 1998.

N*ts rebuilding for the last two years does not give Prokhorov bragging rights. He called him "that little man" not that his team was better.

He most likely has little respect for Dolan. Who does?

Sorry, but you seem to have a distorted sense of facts. Sports teams sale prices are not really driven by the recession. Consider that the Dodgers were sold for over $2 billion after being run into the ground over the past decade. Teams are bought and sold more as toys for billionaires than they are as sound business moves. Ratner, not Proko, made the killing by obtaining Brooklyn property on the cheap and redeveloping it.

When Proko comes in and has a condescending remark about another owner, it is an obvious jab based on their franchise competition and local. It has nothing to do with Proko's respect for Dolan or lack thereof. It is about adding a shock value and garnering attention. If anything it may ultimately not be a smart move if the Nets ever seek to create their own television network. Proko will have to deal with Cablevision some where along the line.

GustavBahler wrote:

Nalod wrote:

GustavBahler wrote:

MSG3 wrote:http://knickerblogger.net/an-open-letter-to-new-nets-fans/

This is the only Knicks/Nets thing written that I really enjoyed in the past couple of months. Worth a read.

Thanks MSG3. Well written and on the money. Let's see how Prokhorov acts if the team fails to live up to expectations. I don't really care that a Russian billionaire is dissing an American one as much as Prokhorov is someone who hasn't done anything on the NBA stage that gives him the right to talk like he's a winner.

He already won. He owns a good chunk of the Real estate project and bought the team at a good price in the recession. He'll make a killing.

Dolan wins because financially mSG does well.

Fans lose because we measure the team by its on court results.

No championships in nearly 40 years. Dolan has been at the helm since 1998.

N*ts rebuilding for the last two years does not give Prokhorov bragging rights. He called him "that little man" not that his team was better.

He most likely has little respect for Dolan. Who does?

That's what I'm talking about when I say "winning on the NBA stage", which Prokhorov has yet to do. The other stuff is only important to the bean counters. I agree with your assessment of Dolan, but I don't believe Prokhorov is any position to talk trash since he has yet to show that his method has translated into wins. It might in the future, but until then he should kindly STFU.

+10000000000000000 I like this.

Prokhorov is winning!

(FYI to the N*tPhobic: I Did not start this thread and I am responding to a claim that Prokhorov did well to buy the team in recession.)

Fuhgeddaboudit! Nets’ value soars in Brooklyn
By JOSH KOSMAN
Last Updated: 10:17 AM, August 23, 2012
Posted: 12:02 AM, August 23, 2012
Russian billionaire Mikhail Prokhorov is getting a nice bump in his “Net” worth.

The 6-foot-8-inch Nets owner has seen the value of his investment more than double since he bought the team two years ago, thanks to the move into the more financially friendly Barclays Center.

As the Nets gear up for the first season in the soon-to-be-completed Barclays Center, the team is now worth roughly $575 million, according to one sports investment banker. That’s 60 percent more than they were valued just last season by Forbes.

In addition, the team may post its first profit in a decade, The Post has learned.

The Nets are projected to generate $140 million in revenue and earn between $10 million and $15 million in profit, a source with direct knowledge said. Last year, the NBA franchise took in half that amount and lost nearly $30 million.

A Nets spokesman declined comment on the subject of the team’s finances.

In May 2010, Prokhorov bought 80 percent of the team and 45 percent of the arena for $223 million. Of that amount, around $140 million was allocated for the purchase of the team, a source said.

Today, after subtracting $225 million in loans from its estimated $575 million value, the team’s has about $350 million in equity. So Prokhorov’s 80 percent stake would be worth $280 million — or double his $140 million investment.

That would make the Nets the fourth-most valuable NBA team, trailing only the Lakers, Knicks and Bulls, according to Forbes.

Nets CEO Brett Yormark said the Nets will sell north of 10,000 season tickets — double what the team sold when it was in Newark. The average ticket price is $134.20.

“We weren’t so sure we would reach 10,000,” Yormak he said, adding that sponsorships are also triple last year’s rate.

jkosman@nypost.com

Read more: http://www.nypost.com/p/news/business/fuhgeddaboudit_nets_value_soars_RLXWRDtFzGNChiJgTIHGtI#ixzz24T0anlw1

Nalod wrote:Yesterday the Post mentions the above referenced Forbes article and confirms my point about the value being even higher. Since that was posted the estimated value has jumped another 60%

Prokhorov is winning!

(FYI to the N*tPhobic: I Did not start this thread and I am responding to a claim that Prokhorov did well to buy the team in recession.)

Fuhgeddaboudit! Nets’ value soars in Brooklyn
By JOSH KOSMAN
Last Updated: 10:17 AM, August 23, 2012
Posted: 12:02 AM, August 23, 2012
Russian billionaire Mikhail Prokhorov is getting a nice bump in his “Net” worth.

The 6-foot-8-inch Nets owner has seen the value of his investment more than double since he bought the team two years ago, thanks to the move into the more financially friendly Barclays Center.

As the Nets gear up for the first season in the soon-to-be-completed Barclays Center, the team is now worth roughly $575 million, according to one sports investment banker. That’s 60 percent more than they were valued just last season by Forbes.

In addition, the team may post its first profit in a decade, The Post has learned.

The Nets are projected to generate $140 million in revenue and earn between $10 million and $15 million in profit, a source with direct knowledge said. Last year, the NBA franchise took in half that amount and lost nearly $30 million.

A Nets spokesman declined comment on the subject of the team’s finances.

In May 2010, Prokhorov bought 80 percent of the team and 45 percent of the arena for $223 million. Of that amount, around $140 million was allocated for the purchase of the team, a source said.

Today, after subtracting $225 million in loans from its estimated $575 million value, the team’s has about $350 million in equity. So Prokhorov’s 80 percent stake would be worth $280 million — or double his $140 million investment.

That would make the Nets the fourth-most valuable NBA team, trailing only the Lakers, Knicks and Bulls, according to Forbes.

Nets CEO Brett Yormark said the Nets will sell north of 10,000 season tickets — double what the team sold when it was in Newark. The average ticket price is $134.20.

“We weren’t so sure we would reach 10,000,” Yormak he said, adding that sponsorships are also triple last year’s rate.

jkosman@nypost.com

Read more: http://www.nypost.com/p/news/business/fuhgeddaboudit_nets_value_soars_RLXWRDtFzGNChiJgTIHGtI#ixzz24T0anlw1

I find it hard to believe the Prok is already at a net gain. Doubled his investment, but operating in the black before his business is even openned it's doors? The Barclays center didn't even open yet!

I've went to Nets games when they were in Jersey, the arena is always empty! They're just going to magically drum up a rabid fan base in Brooklyn? Doubt it. Let's call him a success after Jay Z's kickoff shows sell out one after another and the Nets games are full for an entire season first.

This is my memories of the Nets fanbase...nonexistent!

P.S. - I wonder if they're still going to pump in the fake crowd noise in Barclays like they did in NJ through the PA speakers. So cheesy! It's like pumping in audience laughter on a Sitcom on TV.

Nalod wrote:

ChuckBuck wrote:

Nalod wrote:Yesterday the Post mentions the above referenced Forbes article and confirms my point about the value being even higher. Since that was posted the estimated value has jumped another 60%

Prokhorov is winning!

(FYI to the N*tPhobic: I Did not start this thread and I am responding to a claim that Prokhorov did well to buy the team in recession.)

Fuhgeddaboudit! Nets’ value soars in Brooklyn
By JOSH KOSMAN
Last Updated: 10:17 AM, August 23, 2012
Posted: 12:02 AM, August 23, 2012
Russian billionaire Mikhail Prokhorov is getting a nice bump in his “Net” worth.

The 6-foot-8-inch Nets owner has seen the value of his investment more than double since he bought the team two years ago, thanks to the move into the more financially friendly Barclays Center.

As the Nets gear up for the first season in the soon-to-be-completed Barclays Center, the team is now worth roughly $575 million, according to one sports investment banker. That’s 60 percent more than they were valued just last season by Forbes.

In addition, the team may post its first profit in a decade, The Post has learned.

The Nets are projected to generate $140 million in revenue and earn between $10 million and $15 million in profit, a source with direct knowledge said. Last year, the NBA franchise took in half that amount and lost nearly $30 million.

A Nets spokesman declined comment on the subject of the team’s finances.

In May 2010, Prokhorov bought 80 percent of the team and 45 percent of the arena for $223 million. Of that amount, around $140 million was allocated for the purchase of the team, a source said.

Today, after subtracting $225 million in loans from its estimated $575 million value, the team’s has about $350 million in equity. So Prokhorov’s 80 percent stake would be worth $280 million — or double his $140 million investment.

That would make the Nets the fourth-most valuable NBA team, trailing only the Lakers, Knicks and Bulls, according to Forbes.

Nets CEO Brett Yormark said the Nets will sell north of 10,000 season tickets — double what the team sold when it was in Newark. The average ticket price is $134.20.

“We weren’t so sure we would reach 10,000,” Yormak he said, adding that sponsorships are also triple last year’s rate.

jkosman@nypost.com

Read more: http://www.nypost.com/p/news/business/fuhgeddaboudit_nets_value_soars_RLXWRDtFzGNChiJgTIHGtI#ixzz24T0anlw1

I find it hard to believe the Prok is already at a net gain. Doubled his investment, but operating in the black before his business is even openned it's doors? The Barclays center didn't even open yet!

I've went to Nets games when they were in Jersey, the arena is always empty! They're just going to magically drum up a rabid fan base in Brooklyn? Doubt it. Let's call him a success after Jay Z's kickoff shows sell out one after another and the Nets games are full for an entire season first.

This is my memories of the Nets fanbase...nonexistent!

P.S. - I wonder if they're still going to pump in the fake crowd noise in Barclays like they did in NJ through the PA speakers. So cheesy! It's like pumping in audience laughter on a Sitcom on TV.

Knicks are valued as such because MSG owns the arena and the cable distribution channel. They print money like crazy. Thats also been the problem with the team because the team need only be relevant to keep up revenue. They play it safe which might limit their ceiling.

If you think the Jersey thing is correlated to the team moving and the attendance will suffer because of its heritage then I think your making a very uneducated statement. New buildings do matter and the move to NY is a big deal.

Lets put it this way, I really think the Knicks will be fine as long as they are taking care of its business and wins. there is enough space in this town for two franchises to succeed financially.

The problem for the Knicks only happens if the Nets win a championship before.

Let's wait and see my friend. Wait and see. If there's still empty seats and fake crowd noise after the first month or 2 novelty wears off, you'll definitely see a thread or 2 spring up.

ChuckBuck wrote:

Nalod wrote:

ChuckBuck wrote:

Nalod wrote:Yesterday the Post mentions the above referenced Forbes article and confirms my point about the value being even higher. Since that was posted the estimated value has jumped another 60%

Prokhorov is winning!

(FYI to the N*tPhobic: I Did not start this thread and I am responding to a claim that Prokhorov did well to buy the team in recession.)

Fuhgeddaboudit! Nets’ value soars in Brooklyn
By JOSH KOSMAN
Last Updated: 10:17 AM, August 23, 2012
Posted: 12:02 AM, August 23, 2012
Russian billionaire Mikhail Prokhorov is getting a nice bump in his “Net” worth.

The 6-foot-8-inch Nets owner has seen the value of his investment more than double since he bought the team two years ago, thanks to the move into the more financially friendly Barclays Center.

As the Nets gear up for the first season in the soon-to-be-completed Barclays Center, the team is now worth roughly $575 million, according to one sports investment banker. That’s 60 percent more than they were valued just last season by Forbes.

In addition, the team may post its first profit in a decade, The Post has learned.

The Nets are projected to generate $140 million in revenue and earn between $10 million and $15 million in profit, a source with direct knowledge said. Last year, the NBA franchise took in half that amount and lost nearly $30 million.

A Nets spokesman declined comment on the subject of the team’s finances.

In May 2010, Prokhorov bought 80 percent of the team and 45 percent of the arena for $223 million. Of that amount, around $140 million was allocated for the purchase of the team, a source said.

Today, after subtracting $225 million in loans from its estimated $575 million value, the team’s has about $350 million in equity. So Prokhorov’s 80 percent stake would be worth $280 million — or double his $140 million investment.

That would make the Nets the fourth-most valuable NBA team, trailing only the Lakers, Knicks and Bulls, according to Forbes.

Nets CEO Brett Yormark said the Nets will sell north of 10,000 season tickets — double what the team sold when it was in Newark. The average ticket price is $134.20.

“We weren’t so sure we would reach 10,000,” Yormak he said, adding that sponsorships are also triple last year’s rate.

jkosman@nypost.com

Read more: http://www.nypost.com/p/news/business/fuhgeddaboudit_nets_value_soars_RLXWRDtFzGNChiJgTIHGtI#ixzz24T0anlw1

I find it hard to believe the Prok is already at a net gain. Doubled his investment, but operating in the black before his business is even openned it's doors? The Barclays center didn't even open yet!

I've went to Nets games when they were in Jersey, the arena is always empty! They're just going to magically drum up a rabid fan base in Brooklyn? Doubt it. Let's call him a success after Jay Z's kickoff shows sell out one after another and the Nets games are full for an entire season first.

This is my memories of the Nets fanbase...nonexistent!

P.S. - I wonder if they're still going to pump in the fake crowd noise in Barclays like they did in NJ through the PA speakers. So cheesy! It's like pumping in audience laughter on a Sitcom on TV.

Knicks are valued as such because MSG owns the arena and the cable distribution channel. They print money like crazy. Thats also been the problem with the team because the team need only be relevant to keep up revenue. They play it safe which might limit their ceiling.

If you think the Jersey thing is correlated to the team moving and the attendance will suffer because of its heritage then I think your making a very uneducated statement. New buildings do matter and the move to NY is a big deal.

Lets put it this way, I really think the Knicks will be fine as long as they are taking care of its business and wins. there is enough space in this town for two franchises to succeed financially.

The problem for the Knicks only happens if the Nets win a championship before.

Let's wait and see my friend. Wait and see. If there's still empty seats and fake crowd noise after the first month or 2 novelty wears off, you'll definitely see a thread or 2 spring up.

Your picking a fight that does not exist. Your under the assumption I care about the N*ts. I don't. Just because I might follow them does not mean I am a "fan". You will too check the box score and attendence figures from what you said. That does not make you a fan does it?

I am not under the fallacy that a knick success is predicated on a N*t failure. I have stated theY are irrelevant so long as the knicks take care of their business. If the Knicks faulter and are .500 do you expect me to revel in joy if the N*ts finish ahead? The only solace I will take in a N*ts success and Knicks not doing well is a few narrow minded Knick Homers might be learning a few lessons in objectivity.

Other than that I will suffer.

ChuckBuck wrote:Objectivity? Sounds like a Brooklyn dude hedging his bets...

I'll root for the Nets if they advance beyond the Knicks.

I'll root for the Nets because I'll root for New York before other cities.

Beyond that we'll just have to see.

Its all gonna be sorted out on the court in due time. We all have our reasons.

foosballnick wrote:

Nalod wrote:

ChuckBuck wrote:Objectivity? Sounds like a Brooklyn dude hedging his bets...

I'll root for the Nets if they advance beyond the Knicks.

I'll root for the Nets because I'll root for New York before other cities.

Beyond that we'll just have to see.

Its all gonna be sorted out on the court in due time. We all have our reasons.

Nalod. Go back to the Forbes article. There is a problem with the math in terms of touting Proko's financial windfall. Here's how......

Initial investment.....$140 mil
Aproximate operating loss in two years since owning the team.....$60 mil
That's $200 mil already pumped into the team.

At a revenue of plus $10 mil per year....which is probably generous considering luxury tax and the fact that attendance is usually at a high with a new arena/team....that's still 20 years to make his money back. (Ive used whole 100% ownership instead of 80%).

The projected value of the franchise or equity as they call it....is only a projection and can not be realized unless he sells a share of the team.

So he really has not won anything yet....even financially.

On paper profit based on valuations is not an error.

Forbes > Foosballnick

Your evaluation is not valid nor is your Dodger comp.

Proko is winning. Not at Dolans expense.

For fans its about the basketball and it all gets sorted out on the court!~