Multiple sources tell NetsDaily that the final deal between Mikhail Prokhorov and Joe Tsai is likely to be closed and announced in next week or so. As the deal was reported in late October, Tsai will pay $1.13 billion for 49 percent of the Nets with an option to take control in 2022. Prokhorov will retain 100 percent ownership of Barclays Center and the other venues his Brooklyn Sports & Entertainment controls including Nassau Coliseum.
Just last week, in a discussion of the Nets future with NetsDaily, GM Sean Marks noted, “We’re going to have to be patient, Mikhail’s going to have to be patient, Joe’s going to have to be patient, but by the end of the day, we all realize, ‘let’s build the foundation.’”
Nets officials have noted repeatedly over the last several months that Tsai, like Prokhorov, has bought into Marks long-term rebuild. In November, during a short back-and-forth between him and Bill Walton in Huangzhou, Tsai told the Hall of Famer that he expects his ownership to be “an interesting journey” and “a long-term project.” He also described Jeremy Lin, a Taiwanese-American, as his “favorite player.”
Nets Daily: Multiple sources say final deal between Mikhail Prokhorov and Joe Tsai likely to be closed and announced in next week or so. As reported back in October, Tsai will pay $1.1 bn for 49% of team with option to take control in 2022. The two owners have combined net worth of $23 bn
Cavaliers majority owner Dan Gilbert said in a Tweet his son survived eight hours of brain surgery. Nick Gilbert, 21, underwent the surgery this week to treat a brain tumor. His father said Nick made it through the surgery and 48 hours of rest, but still has “hurdles ahead.”
Kings owner and chairman Vivek Ranadive said in a written statement that more details on the bid will be announced next week and that the team will present its bid to the NBA on Feb. 23. “Golden 1 Center has been a great spark for the city and building on that momentum, we have assembled an unprecedented plan to host a global celebration of basketball at the All-Star Game in Sacramento,” Ranadive said in a written statement.