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Nets owner Mikhail Prokhorov: 'We have no interest in selling'

By James Herbert | NBA writer

Mikhail Prokhorov does not intend to sell the Nets.
Mikhail Prokhorov does not intend to sell the Nets. (USATSI)

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Responding to a report that he was "listening to offers" from those interested in buying the Brooklyn Nets, owner Mikhail Prokhorov issued a concise statement, via the New York Post's Fred Kerber: "We have no interest in selling the team."

Yahoo Sports' Adrian Wojnarowski reported that Prokhorov was "open to overtures from potential buyers," but that there was no indication that he wanted to sell. The goal was just to determine how high the price tag would be, and this could have more to do with the Nets' minority owners, rather than Prokhorov, via the Post:

It has been public knowledge that Bruce Ratner, who owns up to 20 percent of the team, has been looking to sell. Plus there are about 100 other minority owners. After the Clippers mess broke, people wanted to know what they had.

“They are getting an evaluation,” one league source said. “So they need to know what the whole thing is worth.”

Prokhorov bought 80 percent of the team and 45 percent of the Barclays Center in 2010, and would probably stand to make a substantial profit if he decided to sell. He originally paid $225 million for the franchise, and Steve Ballmer recently agreed to purchase the Los Angeles Clippers for $2 billion. It would be surprising if Prokhorov changed his mind in the near future, as he has always appeared more interested in winning than turning a profit, as evidenced by spending more than $190 million on salary and luxury-tax payments this season.

 
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