Mikhail Prokhorov Rumors
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.
The partnership is yet another indication that Prokhorov and his ONEXIM Sports and Entertainment group will continue to invest in the sports and sports venue businesses. Known as Entitle, the partnership launches with two clients that have retained it to sell naming rights to major league facilities, according to Sports Business Journal. Yormark refused to identify them to protect client confidentiality. The new firm plans to pursue business both domestically and internationally.
The Russian is coming. Nets owner Mikhail Prokhorov will be spending more time in the US now that he’s moved some of his billions from Moscow to Brooklyn, sources say. Prokhorov sold off his $2 billion stake in Uralkali, the world’s biggest potash mining company, after Russian police raided his offices in April.
So, King didn’t know I was going to be there, but he certainly recognized me and to his credit, didn’t seem to hold back. Since we weren’t told it was off-the-record, we, my seatmate and I, assumed it was on. We’ve written about this before but haven’t shared the notes. So in the interest of full disclosure on this issue, here they are: King says Dmitry Razumov is fully engaged, that they talk, text, email all the time and that at the trade deadline, there was constant communication between the two of them and among him, Razumov and Prokhorov. Razumov came to New York for more than a week.