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Mikhail Prokhorov getting closer to selling Nets, seeking $2 billion

Mikhail Prokhorov

The Brooklyn Nets might soon become the next franchise to have a new owner.

Russian billionaire and Nets owner Mikhail Prokhorov has made it known last month that he’s planning to sell the team in a process which will see buyers get a minority stake first before having the right to purchase the entire team.

Now, the plan seems to be working for Prokhorov as latest reports from Josh Kosman of the New York Post revealed that the 52-year-old has some suitors interested to acquire a 49 percent stake in the franchise:

There are multiple suitors late in the process to buy a 49-percent stake in the struggling NBA team, along with the right to buy a larger stake and become the controlling owner in three years, sources told The Post.

The sale does not include Brooklyn’s Barclays Center.

According to the report, Prokhorov is also firm on his $2 billion valuation of the franchise, the only price which he is willing to sell the team.

There are no other details regarding the people interested in buying the Nets, but it’s clear that Prokhorov is ready to part ways with Brooklyn especially now that the market is ripe, with the Houston Rockets recently sold for a record price of $2.2 billion.

This latest news certainly puts the future of the franchise in limbo, though the Nets will hope that this is only a step forward towards a better rebuilding process.