The Brooklyn Nets might be up for sale soon, according to Bloomberg.
The NBA team’s majority owner Mikhail Prokhorov, who owns 80 percent of the team, has moved to sell his share of the Brooklyn squad after hiring the Evercore Partners to help in the sale.
Prokhorov, who also owns 45 percent of the Barclays Center, could get more than $2 billion, according to estimates based on the $2 billion that the Los Angeles Clippers were sold for last year. His stake in the stadium is not set to be for sale, the report says.
In light of the sale rumors, a spokesperson for Prokhorov has addressed the matter.
“As we have been saying for many months, team ownership is open to listening to offers,” Ellen Pinchuk said. “That’s just part of the business. There is nothing imminent in terms of the sale of any stake in the team.”
Jay Z was a minority owner of the Brooklyn Nets. He sold his share of the team in 2013, but added that he would be a fan for life. At the time of his sale, Jay said it was an honor to work with Prokhorov.
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Continue reading The Brooklyn Nets May Be Up For Sale
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