Mikhail Prokhorov Rumors
Billy King and Lionel Hollins were in South Africa and are headed out on much-delayed vacations. It would appear from that and from Mikhail Prokhorov’s video that the Nets are done other than some training camp invites. They have 17 players under contract, including Earl Clark who reportedly would like the Nets to waive him so he can move on, perhaps overseas.
In a special message for Brooklyn fans, Nets Principal Owner Mikhail Prokhorov talks about the current state of the team and what’s to come in the future. Complementing the core of Brook Lopez, Thaddeus Young and Joe Johnson, Prokhorov highlights the shift to a youth-focused team with high levels of athleticism. The one thing that remains constant, Prokhorov reiterates, is that the team is here to win, and the Nets are committed to doing whatever it takes to make that happen.
And one more note: you may remember my promise to get married if we didn’t win a championship within five years. Sadly to say, five years have passed. And today, I am very happy to say that NBA commissioner Adam Silver has agreed to take the plunge in my place. Adam, you are a much better man than me. Thank you very much, and I wish you and your new bride every happiness. And to the Nets fans, have a best rest of the summer, and I will be seeing you soon.
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.