Nets Owner Mikhail Prokhorov Selling 49 Percent Stake

by April 21, 2017

Mikhail Prokhorov is looking for someone to take 49 percent of the Brooklyn Nets off his hands.

The 20-62 Nets had the worst record in the NBA this season, and finished below .500 for the third year in a row.

Prokhorov continues to talk up his franchise’s future, but their struggles on and off the court are mounting.

Per the AP:

The Russian billionaire announced his intention to sell a minority stake in December, and now says “49 percent of the Brooklyn shares are up for sale,” in comments reported by R-Sport.

 

He adds that “currently the process is going on and we are looking for a buyer.”

 

Prokhorov took an 80 percent stake in the then-New Jersey Nets in 2010, moved the team to Brooklyn in 2012, and took full ownership in 2015.

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