Mikhail Prokhorov went all out to the tune of $144 million to try and win an NBA championship in the 2013-14 season and now he’s reportedly done with his new venture. The Brooklyn Nets are for sale.
via Bloomberg:
Russian billionaire Mikhail Prokhorov retained Evercore Partners (EVR) to sell the National Basketball Association team he bought in 2010, according to two people with direct knowledge of the matter.
The people requested anonymity because the matter is private.
Prokhorov, 49, the first foreign owner of an NBA team, holds 80 percent of the club and 45 percent of the Barclays Center, its 2 1/2-year-old arena which next season will house hockey’s New York Islanders. Only the team is for sale, the people said.
Because of their home in the No. 1 U.S. media market, and the infrequency with which marquee franchises become available, the Nets might fetch more than the record $2 billion former Microsoft Corp.
Prokhorov paid about $220 million for his share of the Nets.
