Brooklyn Nets Sale Rumors: Latest Buzz, Speculation on Potential New Owners

Adam WellsJan 13, 2015

Brooklyn Nets owner Mikhail Prokhorov has been linked to talks about selling the franchise, but has denied those reports.

Continue for updates.

Bucher Weighs In On Nets' Future

Wednesday, Jan. 21

Ric Bucher of Bleacher Report gave his thoughts on the future of the Brooklyn Nets and a potential sale:

Prokhorov Reportedly Looking to Sell Nets, Denies Reports

Tuesday, Jan. 13

In a surprise move, Brooklyn Nets owner Mikhail Prokhorov is reportedly looking to sell the franchise.

According to Scott Soshnick of Bloomberg News, Prokhorov has retained the services of a banking firm to explore the possibility of selling the Nets:

"
Russian billionaire Mikhail Prokhorov retained Evercore Partners (EVR) to sell the National Basketball Association team he bought in 2010, according to two people with direct knowledge of the matter.
The people requested anonymity because the matter is private.
"

Howard Beck of Bleacher Report also confirmed the Bloomberg report:

ESPN.com's Ramona Shelburne provided comments from a Prokhorov spokesperson:

Prokhorov, who purchased the franchise for $200 million, took over the Nets expecting to make them a championship contender. He built a roster that made the playoffs each of the last two years, including a playoff series win last season over the Toronto Raptors, but the team is 16-22 at this point despite the highest team payroll in the league.

Zach Lowe of Grantland.com reported last June that the Nets were projected to have lost $144 million during the 2013-14 NBA season:

"
The Nets, with that monster $144 million figure, are the biggest losers. Next in line? The Wizards, with projected losses of about $13 million. That's right: The Nets lost $131 million more than any other NBA team last season. This is what happens when you pay $90 million in luxury tax for an aging roster and play in a market so large you are ineligible to receive any revenue-sharing help.
"

Despite the reported revenue losses and current state of the franchise in the Eastern Conference, there's no doubt the Nets will be attractive to potential buyers if Prokhorov opts to move ahead with the sale.

The franchise plays in a brand-new arena that opened in 2012 and has the New York market to go along with it. These would certainly be key factors in any future deals.

Given the explosion in sale prices for NBA franchises over the last few years, like the Los Angeles Clippers and Milwaukee Bucks, the Nets would certainly have a lot of value in a potential sale.