Barclays Center Rumors

The Brooklyn Nets will host Fenerbahce Ulker Istanbul of the Turkish Basketball League for a preseason game on October 5, 2015 at 7:30 p.m. at Barclays Center, General Manager Billy King announced today. “We are excited to be hosting Fenerbahce, as it will be a reunion for Bojan Bogdanovic with his former team,” said King. “Our fans will have an opportunity to see one of the best coached teams in all of Europe when they come to Brooklyn.”
via NBA.com
Ric Bucher in his report on how Mikhail Prokhorov wants to go “all in” on the Nets and Barclays Center, suggested that there could a resolution on the matter in two weeks. He could be right. In a filing last week, Forest Center Enterprises, Bruce Ratner’s parent company, disclosed that the company has an August 12 deadline to either repay his debts to the “MP Entities,” that is ONEXIM, or Ratner’s “ownership interests in the Nets will be diluted from 20% to approximately 8%.” That would mean Prokhorov would own 92 percent of the team. We are told, however, that FCE will pay the tens of millions it owes to Prokhorov and retain the 20 percent interest. What is owed is less than the value of what would be lost. We are told as well that negotiations for the buyout of the entire Ratner stake in the team –and possibly the arena– are either underway or will be very soon.
via NetsDaily

Mikhail Prokhorov wants to buy out Bruce Ratner stake in Nets, Barclays

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Ric Bucher, reporting for Bleacher Report, said Tuesday night that the Nets principal owner, Mikhail Prokhorov, owner of 80 percent of the Nets and 45 percent of Barclays Center. wants to go “all-in” and buy out stakes in both from Bruce Ratner. Bucher said an announcement could come on the plan within two weeks. NetsDaily has been told there may soon be negotiations between the two sides on such a possible sale. Ratner, who was principal owner from 2004 through Prokhorov’s purchase of the team in 2010, has been trying to sell his stakes in both properties, but has thus far failed. NetsDaily has reached out to both sides for comment.
via NetsDaily
Bucher in a video report, stated… I’m hearing that Prokhorov … There’s been a lot of talk about him selling the franchise … and now the latest is that in the next two weeks we could hear an announcement that he’s actually buying 100 percent of the franchise, buying the Barclays Center, going all in. Sources who told me this also told me there is still the possibility that he gets completely out if he has that opportunity, but the indications are much more strong that he would go the other way and buy all the way in.
via NetsDaily
Bucher also said the Nets have taken Johnson off the market and that would suggest that Prokhorov is all in because he wants a competitive team but one that is more financially responsible than the one that they had. So by getting rid of Deron Williams and a couple of other moves they get below the tax threshold but at the same time you still have Joe Johnson, you’re still competitive, you still have a chance to compete for a playoff spot.
via NetsDaily
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.
via Philadelphia Inquirer
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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.
via ESPN.com