Brooklyn Nets owner Mikhail Prokhorov has told Russian media he’s selling a 49 percent stake in the NBA club. The Russian billionaire announced his intention to sell a minority stake in December, and now says “49 percent of the Brooklyn shares are up for sale,” in comments reported by R-Sport.
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Ohm Youngmisuk: Mikhail Prokhorov reiterated he will remain majority owner of the Nets and said he is actively searching for a minority ownership partner to “strengthen” the team’s presence in New York. “I’m passionate about owning the Nets and our emerging sports and entertainment businesses, and will continue to look at growth opportunities,” Prokhorov said in a statement. “… I’m proud of the steps we’ve taken this year, including the opening of the world-class HSS Training Center and developing a new culture with GM Sean Marks and Head Coach Kenny Atkinson. I’m committed to the Nets and will remain the majority owner of the team.”
According to a Nets insider, the Russian oligarch would like to sell up to 49 percent of the Nets, but NOT the other assets held by Brooklyn Sports & Entertainment: Barclays Center, Nassau Coliseum, and the Brooklyn Paramount Theater. There’s no indication that Prokhorov has set any deadline for a sale or who might be interested.
Scott Soshnick: BREAKING: @BrooklynNets hire Allen & Co.’s Steve Greenberg to find local minority investor #sportsbiz #NBA
Mikhail Prokhorov’s Moscow-based spokesperson, Ellen Pinchuk, has reiterated the Nets owner’s position that he intends to hang on the team. “He has no plans to sell the team.” Pinchuk told the Post’s Page Six.
Other league sources say that both Prokhorov and his CEO, Dmitry Razumov, remain convinced they can turn the team around. Rumors of his intention to sell have risen and fallen over the last year. Prokhorov has said he’s willing to sell a piece of the team and arena, but there’s no indication of any active discussions. Prokhorov bought the remaining share of the team (20 percent) and Barclays Center (55 percent) as well as an 85 percent share in Nassau Coliseum from Bruce Ratner just before Christmas.
Chris Mannix: Prokhorov says he has “no ideas to sell” the Nets. Says he is happy being 100% owner of the team. Says he has had offers for the team.
Tim Bontemps: Prokhorov: “I take full responsibility for the state of the team.”
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June 23, 2017 | 7:26 pm EDT Update
As expected, Los Angeles Clippers forward Blake Griffin, a five-time All-Star forward, has exercised the early termination option on his contract and will become an unrestricted free agent, league sources told The Vertical.
Griffin, 28, is a cornerstone player for the Clippers, a priority for them to re-sign this summer. Boston, Houston and Miami are among multiple possible free-agent destinations for Griffin, who’ll also consider returning to the Clippers.