Connect with us

Nets news: Mikhail Prokhorov willing to sell team if price is near $2 billion

Mikhail Prokhorov

Brooklyn Nets owner Mikhail Prokhorov surprised many last week when news came out that he is looking to sell his team.

The development came out after the Houston Rockets was put up for sale by Leslie Alexander, as he was apparently interested to find new owners if it reaches the same projected selling price like the Southwest division team.

Now, there have been some groups that have emerged as potential buyers of the franchise, but it has been reported by Josh Kosman of the New York Post, that the Russian billionaire is looking at the $2 billion range for the franchise.

There’s no official sale book bouncing around yet when it comes to the Brooklyn Nets, but already the investment bank Allen & Co. has received several expressions of interest, The Post has learned.

The basketball team owned by billionaire Russian Mikhail Prokhorov hoped to fetch around $2 billion, but we hear one interested party has been trying to box out others in the sale process.

A source told On the Money that Alibaba Executive Vice Chairman Joe Tsai has expressed an interest in the team, though reps for his family office, Blue Pool, deny it.

Although it may seem like a huge amount, the popularity of the league and the merchandise sales of their products around the world will still leave enough room for revenue. It also helps that they have Jeremy Lin in their fold, who is one of the most popular players in the league today, especially in China. That said, it explains why Prokhorov is also being rumored to be looking for Chinese investors to form the Nets’ next ownership group.

It will be very interesting to see if the sale will come to fruition and when it will happen. With new owners, the direction of the team may once again change, but the Brooklyn faithful are hopeful it will serve as a positive change for them, which could help speed up their rebuilding stage to become a winning group again soon.