Owners Rumors

Mikhail Prokhorov to sell minority stake in Nets?

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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.”
7 days ago via ESPN
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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.