HoopsHype Owners rumors

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January 13, 2015 Updates

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. Bloomberg

“It’s a unique asset which is going to garner national and international interest,” said Sal Galatioto, founder of New York-based advisory firm Galatioto Sports Partners, which has sold NBA teams including the Philadelphia 76ers and Phoenix Suns. Galatioto declined to put a price tag on the team, which valuations expert Peter Schwartz said is worth about $1.3 billion. The arena is worth even more, said Schwartz, a managing director at Boston-based Christie & Associates, adding that the commodity tycoon’s combined stake is worth about $2 billion. Bloomberg

Mike Mazzeo: Statement from Prokhorov's spokesperson: "As we have said for many months, ownership is always open to offers -- that's just good biz. There is nothing imminent in terms of a sale of any stake in the team." #Nets Twitter @MazzESPN

Russia’s ruble has weakened against the dollar. Declining oil prices put the country on the brink of recession, while sanctions, introduced by Western countries against some of the largest Russian companies, increased concerns about its ability to service its external debt. Putin last year said Russian businessmen “need to understand their responsibility” during a meeting with the Russian Union of Industrialists and Entrepreneurs. He called for Russian-owned companies to register and to pay taxes in Russia. “Given the recent speculation that Mr. Prokhorov might sell his interest in light of the slumping Eastern European economies this is certainly an interesting development,” said Chuck Baker, head of sports mergers and acquisition as a partner in DLA Piper’s Global Sports, Media and Entertainment practice. Bloomberg

January 12, 2015 Updates
January 11, 2015 Updates

‎After a historic two-decade run of slugging in which he shattered Babe Ruth's all-time record by hitting 755 home runs, Aaron has ‎spent much of his post-playing career as a baseball executive as well overseeing a business portfolio that has featured numerous car dealerships and restaurants. Sources say Aaron's devotion to Atlanta as a city and his longstanding fondness for the Hawks as a basketball fan led him to join this group of bidders. ESPN.com

January 9, 2015 Updates
January 8, 2015 Updates

Former National Basketball Association players Junior Bridgeman and Grant Hill are leading a group that will bid on the Atlanta Hawks, according to a person with direct knowledge of the situation. They’ve hired New York-based advisory firm Galatioto Sports Partners to explore a purchase, said the person, who requested anonymity because the matter is private. Hill didn’t immediately return an e-mail seeking comment. Sal Galatioto, founder of Galatioto Sports Partners, declined to comment. Bloomberg

The team is also drawing interest from a group that includes BTIG LLC’s Steven Starker and Marquis Jet co-founder Jesse Itzler. “There’s extreme interest,” said Itzler, who became an entrepreneur after rapping under the name Jesse Jaymes, and who lives in Atlanta with his wife Sara Blakely, the founder of Spanx Inc. “It’s still preliminary.” Bloomberg

January 6, 2015 Updates
January 5, 2015 Updates

A BBC Sport report over the weekend claimed Sarver has lodged a bid of £18 million to purchase a controlling stake in the Scottish Championship side - and on Monday the club affirmed the interest from the 53-year-old. "The company notes recent press speculation and confirms that it has received an approach from Robert Sarver [or a vehicle to be established and controlled by him] that may or may not lead to an offer being made for the company," read a statement from Rangers. "There can be no certainty that an offer will be made, nor as to the terms on which an offer may be made. A further announcement is expected shortly." ESPN.com

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