Report: Mikhail Prokhorov plans to retain control of Nets
Brooklyn Nets majority owner Mikhail Prokhorov has told NBA commissioner Adam Silver that he plans to retain control over the team, Mitchell Abramson of the New York Daily News reported on Thursday.
Earlier this summer, reports emerged that Prokhorov was fielding offers to buy the team. In recent weeks, he was reported to be in talks with the Los Angeles Dodgers ownership over a combination of assets. The sale of the Los Angeles Clippers for $2 billion reportedly prompted his interest in his team's value on the open market.
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Prokhorov, who bought the Nets in 2010 for $223 million, currently owns 80 percent of the team and has a 45 percent stake in the Barclays Center.
His reported comments to Silver support statements he made earlier this week, in which he said he would not give up control of the team but would entertain the sale of part of the organization.
"My position is that I will not give up control of the team, but you know I'm quite happy when somebody is sending me a nice offer without taking my controlling interest," Prokhorov said.
"I think for the time being nothing is imminent, but still I think it's not bad just to listen."
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According to an ESPN report earlier this year, the Nets' basketball operations department lost $144 million last season. Prokhorov has minimized these losses, saying that he was able to cover the shortfall from his personal fortune.
The Nets are 2-2 and host the New York Knicks on Friday.
- Christopher Woody
