Nets owner reportedly plans to sell team

Here’s the New York Post reporting on the Brooklyn Nets, who may find themselves with a new owner — though the entire process may span a few years:

Nets owner reportedly plans to sell team

Brooklyn Nets owner Mikhail Prokhorov is ready for a long goodbye.

The Russian billionaire, unable to sell a minority stake in the money-losing NBA franchise, now plans to off-load a controlling stake in the team, two sources close to the situation told The Post.

However, Prokhorov is hoping to sell the Nets in a two-part process, the sources said. First, the 52-year-old will look to sell a minority piece of the team — but give the buyer the right to buy the entire team in a short period of time — say three years, the sources said.

Author: Inside Hoops

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