Nets for Sale

[hawksdogsbraves]

We all love to give the Knicks a hard time, but the Nets are the real NY team that's ****ed :oldlol:

http://www.bloomberg.com/news/2015-01-13/prokhorov-said-to-explore-sale-of-brooklyn-nets-basketball-team.html?hootPostID=804d5c053fc457c5000971aa4311e 16d

[russwest0]

:roll: :roll: :roll: :roll: :roll:

They are so ****ed. I wonder how long they are going to have to pay repeater tax fines for?

[Dr. Ice]

:roll: :roll: :roll:

[Foster5k]

Prokhorov worth like 11.2 billion. He can do whatever he wants. Dude is a beast. This is the same guy that ran against Vladimir Putin for president of Russia.

[gasolina]

I did a quick google on their 1st round picks and here's what came up. I also added expiring players on the year

2015 - Atlanta can swap (KG, Outlaw, Mirza)
2016 - owed to Boston (JJ, Lopez, AA, Jack team option)
2017 - Boston can swap (Deron)
2018 - owed to Boston

They probably won't have any cap space next year, and could only add a late 1st rounder.

Yeah they're ****ed.

[Nets fan 93]

Part of the process! Once he's gone hopefully someone could come in and make some changes. Idk whos trying to pay for the highest payroll though

[protox]

Nets lose, but Prok wins. Dude is going to make a killing. How much did he buy the team for? Like 200 mill? Probably going to be like 2 bill for a short term investment.

[Droid101]

Billionaire feels like making a good basketball team.

Buys one, trades away all future for current vets to try to win now.

Things don't work out, sell team.

Boss.

[hawksdogsbraves]

Things are looking good for the Nets' season to spiral out of control and the Hawks to snag a good lottery pick :cheers:

[r15mohd]

the nets are the sideshow to this sale IMO...he is majority owner to the Barclays center IIRC, that is the cash king for the deal. they are booked, for the most part, aren't they?

[hawkfan]

After this season, they will be out of the luxury tax.
And then they can start the rebuild after next season when JJ expires.

[beastee]

Prokhorov:
http://cdn.meme.am/instances/500x/54848231.jpg

Alpha owner. No shits given.

[Akrazotile]

Seriously just contract them.

[chocolatethunder]

They need a firesale to get some picks back. Whatever they can get. Get rid of every asset they have.

[GOBB]

No way nets worth $2bil. Maybe $1bil. How much profit would he have made considering ontop of $200mil for team he paid a yearly luxury tax.

[protox]

No way nets worth $2bil. Maybe $1bil. How much profit would he have made considering ontop of $200mil for team he paid a yearly luxury tax.

Being in NY? 1 bill? Don't think so. Mil went for what? 600 mill?

[Thorpesaurous]

There's a couple things here for Prohkorov. First is that he has had a rough run here of late. The Rupel took a beating in the latest oil pricing thing that's going on, and while it's stabilized, maybe he did lose enough to want to reign things in.

But the second thing is that I remembering reading a ton at the time of the purchase and the move, especially here in the NY area. According to a lot of people, his interest in the Nets was never all that genuine. His real interest was in the property they put the Barclay's Center on. It's on top of a subway hub, that the intention was to put this huge business center on top of because it could be made into a big travel hub. The problem was that in order to do it, they'd have to get the city's support to use eminent domain in order to clear some areas that were already owned. They weren't going to get much support publicly displacing people for the sake of a corporate conglomerate really interested in a piece of real estate. But the public might support the movement if it meant bringing in a local pro sports franchise. So that's what they did. I'm sure sale of the Nets will not include any of his stake in The Barclay's Center.

And while that theory may not seem to make a ton of sense with the actions of making such a ridiculous push toward right now success, it actually does, because if he knew he were only going to have ownership for a few years, he probably could care less about the future assets, but may have wanted to push for a title during this small time he knew he'd own.

[protox]

There's a couple things here for Prohkorov. First is that he has had a rough run here of late. The Rupel took a beating in the latest oil pricing thing that's going on, and while it's stabilized, maybe he did lose enough to want to reign things in.

But the second thing is that I remembering reading a ton at the time of the purchase and the move, especially here in the NY area. According to a lot of people, his interest in the Nets was never all that genuine. His real interest was in the property they put the Barclay's Center on. It's on top of a subway hub, that the intention was to put this huge business center on top of because it could be made into a big travel hub. The problem was that in order to do it, they'd have to get the city's support to use eminent domain in order to clear some areas that were already owned. They weren't going to get much support publicly displacing people for the sake of a corporate conglomerate really interested in a piece of real estate. But the public might support the movement if it meant bringing in a local pro sports franchise. So that's what they did. I'm sure sale of the Nets will not include any of his stake in The Barclay's Center.

And while that theory may not seem to make a ton of sense with the actions of making such a ridiculous push toward right now success, it actually does, because if he knew he were only going to have ownership for a few years, he probably could care less about the future assets, but may have wanted to push for a title during this small time he knew he'd own.


Apparently, it does. He's going to make bank.

http://sports.yahoo.com/news/sources--mikhail-prokhorov-listening-to-offers-for-nets-205625843.html;_ylt=AwrSbD2xYrVUmw4ApY9XNyoA;_ylu= X3oDMTEzbThqYzdsBHNlYwNzcgRwb3MDMgRjb2xvA2dxMQR2dG lkA1ZJUDU2OF8x

[oarabbus]

Prokhorov is a badass. He will probably rebuy the team after the storm in 5 years if he wants to.

[hawksdogsbraves]

There's a couple things here for Prohkorov. First is that he has had a rough run here of late. The Rupel took a beating in the latest oil pricing thing that's going on, and while it's stabilized, maybe he did lose enough to want to reign things in.

But the second thing is that I remembering reading a ton at the time of the purchase and the move, especially here in the NY area. According to a lot of people, his interest in the Nets was never all that genuine. His real interest was in the property they put the Barclay's Center on. It's on top of a subway hub, that the intention was to put this huge business center on top of because it could be made into a big travel hub. The problem was that in order to do it, they'd have to get the city's support to use eminent domain in order to clear some areas that were already owned. They weren't going to get much support publicly displacing people for the sake of a corporate conglomerate really interested in a piece of real estate. But the public might support the movement if it meant bringing in a local pro sports franchise. So that's what they did. I'm sure sale of the Nets will not include any of his stake in The Barclay's Center.

And while that theory may not seem to make a ton of sense with the actions of making such a ridiculous push toward right now success, it actually does, because if he knew he were only going to have ownership for a few years, he probably could care less about the future assets, but may have wanted to push for a title during this small time he knew he'd own.

Yeah, this makes a lot of sense.

Sucks for Nets fans though lol

[rezznor]

No way nets worth $2bil. Maybe $1bil. How much profit would he have made considering ontop of $200mil for team he paid a yearly luxury tax.
forbes has them listed at 700 million. still a nice profit. (might be sold for more now considering how much the clips went for)

[NoGunzJustSkillz]

Nets lose, but Prok wins. Dude is going to make a killing. How much did he buy the team for? Like 200 mill? Probably going to be like 2 bill for a short term investment.
plus he's keeping his 45% $take in barclay arena. barclay is going to start hosting nhl games next season for the rangers.

[NoGunzJustSkillz]

Billionaire feels like making a good basketball team.

Buys one, trades away all future for current vets to try to win now.

Things don't work out, sell team.

Boss.
not only did he do all that damage, he is going to bank when the team sells. they said he got the team for $200 million and the team might fetch more than the $2 billion the clipps sold for :bowdown:

[HomieWeMajor]

Baby girls born in China got a better future than the Nets :roll:

[niko]

Prokorov is a great businessman, a terrible owner. He morgaged his future for a terrible gamble at a title, then the second it wasn't in grasp, decided he wasn't a big spender anymore and wanted out. He's going to wait for a good bid, so right now the Nets are ****ed because you're not making sweeping changes while an ownership change is imminent. Prokorov did one thing for Nets fans, he got them to Brooklyn so they no longer operated like they were small market. But since then he's been an absentee owner, running the team via non basketball proxies with Billy King of all people being the top basketball guy in charge.

Nets fans seem all agitated he might sell, i have no idea why. Anyone who buys them must have deep pockets and a longer term vision than their current owner does, it can't possibly be less.

[HomieWeMajor]

VC3 can you get your hand out of your sister long enough to write your opinion on this.

[Springsteen]

Prokhorov literally walked into the Nets, forced Billy King to go gung-ho on their assets in a futile attempt for a 1 year title run, and is now giving up on the team while making bank on his way out.

Alpha :lol

[niko]

VC3 can you get your hand out of your sister long enough to write your opinion on this.
It will be the party line "THE NETS SAID THEY ARE NOT SELLING SO THEY ARE NOT SELLING". Despite an avalanche of info to the contrary.

[hawksdogsbraves]

Not going to be a fun rebuilding process with no picks :facepalm

[The JKidd Kid]

No way nets worth $2bil. Maybe $1bil. How much profit would he have made considering ontop of $200mil for team he paid a yearly luxury tax.

Any team in NY is easily worth $2bil as long Prokhorv agrees to pay all salary and luxury taxes from players acquired during his ownership. Only way anyone would buy this team.

[The JKidd Kid]

It will be the party line "THE NETS SAID THEY ARE NOT SELLING SO THEY ARE NOT SELLING". Despite an avalanche of info to the contrary.

I hope he sells the team just so something can happen other than being an 8th seed in a shitty conference with no picks. You know a team is hopeless when our biggest bright spot is Mason Plumlee :facepalm

[LoneyROY7]

not only did he do all that damage, he is going to bank when the team sells. they said he got the team for $200 million and the team might fetch more than the $2 billion the clipps sold for :bowdown:

:biggums:

The Nets aren't worth more than the Clippers.

[bagelred]

The original sale to Prokorov never made sense...EXCEPT the fact the NBA wanted a piece of Prokorov's deep pockets.

Firstly, selling American team's to foreign interests is always strange to me...but especially this Russian dude, because there are so many rumors he made his money in shady or illegal deals. David Stern closed his eyes.

Next, if you are Prokorov...with all your billions, of all the things you can do in life...why would a Russian guy buy an American basketball team? Why? It never ever made sense...is he even a basketball fan? Sure, it was entertaining to see him spend money but the whole thing was just odd...so this potential sale doesn't surprise me at all.

The real question is...what is the franchise worth? If Clippers got $2 billion, why wouldn't the Nets get that too, if not more?

[bagelred]

Let's hope an investing group headed by Bruce Springsteen buys it and moves it back to New Jersey. :cheers:

[smoovegittar]

I'll give you 11 first rounders and a bag of Lay's.

[LoneyROY7]

The original sale to Prokorov never made sense...EXCEPT the fact the NBA wanted a piece of Prokorov's deep pockets.

Firstly, selling American team's to foreign interests is always strange to me...but especially this Russian dude, because there are so many rumors he made his money in shady or illegal deals. David Stern closed his eyes.

Next, if you are Prokorov...with all your billions, of all the things you can do in life...why would a Russian guy buy an American basketball team? Why? It never ever made sense...is he even a basketball fan? Sure, it was entertaining to see him spend money but the whole thing was just odd...so this potential sale doesn't surprise me at all.

The real question is...what is the franchise worth? If Clippers got $2 billion, why wouldn't the Nets get that too, if not more?

Because along with being in Los Angeles, the Clippers are a contending team with two marketable superstars under 30.

The Nets are a bad team in luxury tax hell with no marketable players. Yeah, that's why.

[smoovegittar]

Because along with being in Los Angeles, the Clippers are a contending team with two marketable superstars under 30.

The Nets are a bad team in luxury tax hell with no marketable players. Yeah, that's why.
Regarding the Clipps, that's all gonna change if they don't get it done in 2 years. Lakers will always be the hot ticket, and once they start the re-build, that billionaire owner is gonna stop dancing. Make it happen NOW, Clipps.

[LoneyROY7]

Regarding the Clipps, that's all gonna change if they don't get it done in 2 years. Lakers will always be the hot ticket, and once they start the re-build, that billionaire owner is gonna stop dancing. Make it happen NOW, Clipps.

I certainly agree that we need to make it happen now, but Blake is also only 25 years old, so our the window is far from closing.

[smoovegittar]

I certainly agree that we need to make it happen now, but Blake is also only 25 years old, so our the window is far from closing.
I meant fan-base wise, But I think you know that.

[LoneyROY7]

I meant fan-base wise, But I think you know that.

Oh of course. I agree with that.

[bagelred]

Because along with being in Los Angeles, the Clippers are a contending team with two marketable superstars under 30.

The Nets are a bad team in luxury tax hell with no marketable players. Yeah, that's why.

Wait...you think it's better to be in LA than NY? :oldlol:

Plus the Clippers are one of the worst franchises in professional sports. They are the Clippers. They will always be the Clippers.

[LoneyROY7]

Wait...you think it's better to be in LA than NY? :oldlol:

Plus the Clippers are one of the worst franchises in professional sports. They are the Clippers. They will always be the Clippers.

So in other words...you have nothing. :lol

[mehyaM24]

you can't just look at the name and contract - and the manager prokhorov hired did just that. gotta go with advanced stats and hire the best scouts to get talent from anywhere you can. terribly built team and leadership up top.

[It's A VC3!!!]

mixed reports on this. one side says that prokhorov didn't initiate while the other side says he hired an advisor. Anyways, team would be worth $1.8b to $2.2b because of the $1b arena. plus, prokhorov is interested in selling controlling share, which does make the offer more appealing. team has been a playoff team under his regime but he paid way too much money for shit. prokhorov was a fun and terrific owner. no owner in the history of this league will ever again pay $200m in taxes. he did it once, will pay over $100m in taxes this year and that kind of spending is admirable. you have my respect mr. prokhorov. if you do decide to sell this team this year, good luck in your future endeavors. it was fun having russian's own this team.

[Haymaker]

Maybe he used the NBA to launder his money and he finished the task. Time to go.

[niko]

mixed reports on this. one side says that prokhorov didn't initiate while the other side says he hired an advisor. Anyways, team would be worth $1.8b to $2.2b because of the $1b arena. plus, prokhorov is interested in selling controlling share, which does make the offer more appealing. team has been a playoff team under his regime but he paid way too much money for shit. prokhorov was a fun and terrific owner. no owner in the history of this league will ever again pay $200m in taxes. he did it once, will pay over $100m in taxes this year and that kind of spending is admirable. you have my respect mr. prokhorov. if you do decide to sell this team this year, good luck in your future endeavors. it was fun having russian's own this team.
He never paid $200M in taxes, the total payroll was $189M. And he's not selling the arena. And he DID hire an advisor, that's not arguable, that's why this is out there. The "official spin" since you seem to like the nets spin is that is for Ratner's pct.

Prokorov hired a company which matches sellers with buyers for assets like the Nets. Believing a spin that he's not selling at this point with that company being hired is amazing to me. :facepalm

[niko]

I don't get this. Prokorov moved you to Brooklyn. Huge positive. He put Billy King in charge. He allowed him to trade all your picks till 2019. Note: It's 2015. He's stopped spending and allowed Pierce to leave. Note the Nets can't score and are falling apart. He's getting ready to sell so the team is in limbo.

If I was a Net fan, i'd thank him for the move, and be thrilled that someone with some sense of a longterm plan might buy us because Prokorov's thinking is completely short term.

[Duderonomy]

It will be interesting to see what the selling price is. To the posters thinking it will match the Clippers. That was the perfect storm LA market, huge money mark, and CP3 and Blake in their prime. Nets do have a new arena tied into the deal so its tough to say.
VC3 needs to take it easy on the compliments all Prok did was trade future picks for ridic contracts. Win now moves for a team that is now done.

[themurph]

It will be interesting to see what the selling price is. To the posters thinking it will match the Clippers. That was the perfect storm LA market, huge money mark, and CP3 and Blake in their prime. Nets do have a new arena tied into the deal so its tough to say.
VC3 needs to take it easy on the compliments all Prok did was trade future picks for ridic contracts. Win now moves for a team that is now done.


It will match the Clippers sale or come very close. Brooklyn has now become the second most expensive city to live in. For potential buyers of the Nets that's dollar signs all day....

[imnew09]

What a fken smart investment. No wonder he's so fken rich :applause: :applause:

[ralph_i_el]

Shaq needs to buy the Nets

[kuniva_dAMiGhTy]

Rats leaving the sinking ship. Brooklyn will be terrible for years to come, and Boston will only get better using their unprotected picks.

[niko]

Nets fans really drink the koolaid. They're upset about Prokorov selling (I don't get that) and they are accepting the party line that this isn't a sale, it's just a valuation. Prokorov hired a company that finds buyers so he could ask them what they'd pay and then say "psyche, I'm not selling".

WTF...

[FireDavidKahn]

http://assets.nydailynews.com/polopoly_fs/1.467366!/img/httpImage/image.jpg_gen/derivatives/article_970/alg-nets-billboard-jpg.jpg:oldlol: