Barclays Center Rumors

But the 76ers are expected to pick Russell third overall in the draft Thursday night at the Barclays Center in Brooklyn. The Los Angeles Lakers could snatch him up at No. 2. And there’s a chance he could slip to fourth to the New York Knicks. The interest of those teams was obvious during a predraft media availability Wednesday at a Manhattan hotel. Media members were crowded around Russell’s podium 10 minutes before he was scheduled to speak. And it stayed that way throughout his 30-minute news conference. “I was actually in my room before I came down here, just sitting on my bed for like 10 minutes,” he said, “just thinking, soaking it all in, thanking God.
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Yet there are also persistent rumbles in league circles that the real reason the Nets aren’t being actively shopped to potential bidders is the structure of the deal Prokhorov struck to buy the team mandates he sell Barclays Center in conjunction with his basketball team. Word is the entities can’t be sold separately, which is said to have chilled the market due to the complexities involved in such a transaction and the significant price tag it would carry.
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The sale of the Brooklyn Nets has stalled because Mikhail Prokhorov is trying get a $3 billion valuation for the team and Barclays Center while keeping a controlling interest in the NBA team. The Russian billionaire controls 80% of the team and 45% of the arena while Bruce Ratner controls 20% and 55%, respectively. Prokhorov wants to keep 51% of the Nets after any sale. Prokhorov’s terms have been confirmed by two sources who did not want to be mentioned because they do not have permission to speak about the deal discussion publicly. Three weeks ago I wrote that people were telling me Prokhorov only wanted to sell a minority interest. But at that time I wasn’t sure of the valuation he was seeking or the percent ownership he wanted to maintain.