If the price is right, Nets owner Mikhail Prokhorov has shown interest in selling at least a minority stake in the franchise. If the price is right he may even be swayed to sell a majority. Prokhorov's interest came about when the Rockets announced they were for sale. His hope is that some of the interest in Houston's franchise spills over into his franchise.
According to the New York Post, the Nets have many interested buyers in the franchise with Prokhorov looking for a big payday. He hopes a sale would be worth about $2 billion, but they're specifically looking for Chinese investors in the team.
The basketball team owned by billionaire Russian Mikhail Prokhorov hoped to fetch around $2 billion, but we hear one interested party has been trying to box out others in the sale process.
A source told On the Money that Alibaba Executive Vice Chairman Joe Tsai has expressed an interest in the team, though reps for his family office, Blue Pool, deny it.
Reports suggest the Nets want to find a Chinese backer — not surprising given the success of Yao Ming with the Houston Rockets, which are also for sale.
A $2 billion sale of the Nets would be a huge selling price, but it would equal what Steve Ballmer bought the Clippers for and Prokhorov likely considers the Brooklyn market equal to Los Angeles. However, according to Forbes, the Nets are worth a little less than $2 billion.
NBA value has never been higher and if Prokhorov can convince a team to invest in the Nets he might be able to reach that $2 billion mark. Perhaps even more if a bidding war is created over buying the team.
