crzymdups wrote:Proko is looking to sell the Nets because his fortunes have gone down and the Nets are the most expensive roster in the league for little return. That said, as long as Billy King is in charge, they'll be in a perpetual "compete now" mindset.
http://www.forbes.com/sites/mikeozanian/2015/03/12/what-went-wrong-with-the-sale-of-the-brooklyn-nets/
It would appear the sale was very early stages, price was never set and likely the Russian was fishing for a big price.
Its losing money, and while Prohorov has lots of gains to buffer his cash flow, the new owner would be paying a premium, be a minority owner (no power to set direction) and basically pump cash.
Does he need to sell? Russian markets are coming back. and I doubt he is hurting to have to sell the team. As a buisiness owner after the Clippers sale he'd be crazy to not seek out and see what price he could get.
He owns 80%.
Its not disclosed if he is "Hurting". I know he has diviersified over the years and how much if any he has moved his money out of Russia or when. He is not in Putins inner circle and not beholden to him as much as other oligarchs are.
5/7/2015 7:14 AM