HoopsHype Mikhail Prokhorov rumors

June 14, 2014 Updates

With the rising value of the Nets, brought on in part by the astronomical sale price of the Los Angeles Clippers, Mikhail Prokhorov is trying to gauge the price tag for his team, reports Adrian Wojnarowski. But Prokhorov in a statement to NetsDaily Saturday evening stated, "We have no interest in selling the team." NetsDaily

In the wake of the Los Angeles Clippers selling for a league-record $2 billion, Russian billionaire Mikhail Prokhorov has been open to overtures from potential buyers for the Brooklyn Nets, league sources told Yahoo Sports. "Just listening so far," a league official with direct knowledge told Yahoo Sports. "They haven't indicated a desire or willingness to sell. …Nothing was initiated by [Prokhorov]." Yahoo! Sports

Part of Prokhorov's willingness to listen has come out of his company's curiosity of how much his ownership share of the Nets and the Barclays Center could fetch on the market, league sources said. After the Sterling Family Trust sold the Clippers for $2 billion to Steve Ballmer, Prokhorov and his associates believe the combination of the Nets and Barclays Center major market location could net in the neighborhood of the Clippers sale, sources said. Less than five years ago, Prokhorov bought the Nets and a percentage of Barclays Center for $223 million. Prokhorov owns 80 percent of the Nets and 45 percent of the Barclays. Beginning in the 2015-16 season, the NHL's New York Islanders also will move into the arena. Yahoo! Sports

May 29, 2014 Updates
May 27, 2014 Updates

The Nets will soon unveil their plans for a practice facility in Brooklyn's Industry City, a $45 million rehab of the top two floors of a 100-year-old industrial warehouse, complete with spectacular views of Lower Manhattan. Irina Pavlova, president of ONEXIM Sports and Mikhail Prokhorov's representative in New York, heads up the project, working with David Carlock, a member of the Barclays Center board of directors and an arena consultant. NetsDaily

May 21, 2014 Updates
April 24, 2014 Updates
April 16, 2014 Updates
March 26, 2014 Updates

Nets owner Mikhail Prokhorov said Monday he's planning to transfer ownership of the team to one of his companies in Russia — a move that would be unprecedented in major American professional sports. But Tuesday, the Prokhorov-controlled company that runs the Nets said such a move might never happen. "This is a long process, which may or may not come to fruition, and nothing is imminent," Prokhorov's U.S.-based Onexim Sports and Entertainment said in a statement Tuesday. "Of course, no steps in this direction could or would be taken without the full knowledge and approval of the NBA." Bergen Record

March 25, 2014 Updates

After losing 20 of their first 30 games to start the season, the Nets have improved of late. They’ve won four of their last five games to lift their record to 37-32, losing yesterday in overtime. “Prokhorov is known for being loyal to the Kremlin while the Kremlin is loyal to him,” said Ivan Manaenko, head of research at Veles Capital in Moscow. “His move is politically motivated” and the “question of more sanctions is rather when than an if.” Bloomberg

March 24, 2014 Updates

The head of Russian state conglomerate Rostec, Sergei Chemezov, joined Uralkali's board of directors on Monday, Uralkali said, signalling greater government influence in the world's largest potash producer. Chemezov, a powerful ally of President Vladimir Putin, was nominated in February and may become Uralkali's board chairman. The new board of nine directors was elected on Monday by Uralkali shareholders, which include Russian tycoon-turned-politician Mikhail Prokhorov, businessman Dmitry Mazepin's Uralchem and a subsidiary of China Investment Corp (CIC). The board is due to elect a new chairman "in the nearest time", the company said in a statement. Reuters

Cuban also was asked about Nets owner Mikhail Prokhorov, and what he thought the impact on the league could be if Prokhorov was somehow caught up in the ongoing conflict over Crimea. “I’ve thought about it, but I don’t know who he is friends with and who he’s not friends with and all that stuff, so I have no idea,” Cuban said. New York Post

March 21, 2014 Updates

Rod Boone: Asked Billy King if he has any idea if #Nets owner Mikhail Prokhorov could face sanctions from what's going on between the U.S. and Russia. King: "I follow politics, a lot of politics. But I don’t know anything about who we are putting sanctions on or who we are not." #Nets Twitter @rodboone

February 23, 2014 Updates

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