This certainly didn’t take long, but reports are claiming that Brooklyn Nets owner Mikhail Prokhorov has been gauging the interest of people for months in regards to selling his interest in the team. He is completely open to giving up his majority ownership, but of course for the right price. That price is not going to be cheap, especially considering the recent $2 billion dollar sale of the Clippers. I can’t say I am surprised about these reports though because things aren’t exactly working out for the team the way the owner expected. Hit the jump.


A source with knowledge of the financial situation says the asking price values the Nets franchise at $1.2 billion and Barclays Center, their home, at $1.1 billion. At that price, one source said, it’s unlikely that a single buyer would be willing to purchase the team in its entirety — especially given the losses that the Nets have shown. The Nets lost $144 million in basketball-related business in 2013-14 — $131 million more than the next highest team!!

He has said numerous times publicly he had no intent on selling the team, but obviously behind the scenes he seems to be talking a different way. The Nets are not expected to be much of a contender this upcoming season, with the playoffs itself not even a guarantee. The whole expectation of making New York a Brooklyn Nets town is also just not working out the way most people in the organization likely assumed it would.

They went all in this past season and it led to a second round exit from the playoffs for a team that had legit title hopes at the beginning of the season. Also last year the Knicks didn’t even make the playoffs, but it still seemed the majority of New York sports fans could care less that Brooklyn did. New York is always going to be a Knicks city, even when the team is not good.

Mikhail may just be looking for an early exit since things are not working out as planned. To his credit he has proven he is willing to spend money to put a winning team together, but it hasn’t gone so well on the actual court. Couple that with another new coach after the departure of Jason Kidd and the franchise just does not seem to be in good shape, which is why it makes sense that he is looking to sell.