Jan. 14, 2015
Want to buy the Brooklyn Nets?
Want to buy out Russian billionaire Mikhail Prokhorov's share of the Brooklyn Nets? If you've got a billion or so laying around looking to be spent, you could become the majority owner of a mediocre basketball team with the NBA's highest payroll.
According to multiple reports--and not denied by the Nets, Prokhorov is looking to shed his 80% interest in the team but not his 45% of the teams arena, The Barclays Center.
Prokhorov has owned his stake in the team since 2010 and has supposedly taken a bit of a financial hit due to the ongoing Russian financial crisis and devaluation of the ruble. Estimates of what his share of the Nets might bring could according to some bring a higher price than the $2 billion Steve Ballmer paid last summer for the Los Angeles Clippers.
Whomever makes the purchase will be inheriting a payroll north of $90 million with overpriced and underperforming veterans like Joe Johnson, Deron Williams and Kevin Garnett on the roster. The Nets sit as of this writing at 16-22 on the season and in 8th place in the Eastern Conference.