Prokhorov is selling the Brooklyn Nets and cashing out!!
Mikhail Prokhorov, owner of the Brooklyn Nets is selling the team A.S.A.P. and if Philadelphia 76ers CEO Scott O’Neil is correct, the Russian billionaire tycoon is going to make an even bigger killing than people thought.
O’Neil was a guest on Bloomberg Television’s “Market Makers” when he was asked how much he thinks the Nets will sell for.
“I think they go for $1.4, $1.5 billion, [the exact amount] depends on what’s included, what the lease looks like, how much of the arena you get. There is a whole bunch of different factors. But I would say, given the current set up, the current structure now, $1.5-ish [billion].” — Scott O’Neil
Even if the eventual sale price is at the low end of recent projections, Prokhorov is going to cash-out big time on his initial $300 million investment he made just 5 years ago. The team was bought by Prokhorov and Bruce Ratner for a total of $600 Million.
Syed Mikhail Hussain is fan of all things NYC and Hip Hop. Winner of the sperm race back in ’89. He does a weekly basketball podcast. Follow him on Facebook, Instagram or Twitter at @swishthis.
