The Brooklyn Nets are one of the NBA's worst teams at the moment, and owner Mikhail Prokhorov has reportedly made a move to give him greater autonomy over what he decides to do with the franchise.
Scott Soshnick and Eben Novy-Williams of Bloomberg Business reported Wednesday Prokhorov agreed with Bruce Ratner's Forest City Enterprises Inc. to take sole ownership of the Nets as well as their home arena, the Barclays Center.
Prokhorov already owned 80 percent of the Nets and had a 45 percent stake in the Barclays Center upon taking over Brooklyn's NBA squad in May 2010.
The Russian billionaire has been steadfast in his support of the team but hasn't been rewarded with great results on the court. After seven straight losses to open the season and a 3-4 stretch thereafter, though, Prokhorov didn't appear too alarmed, per the Record's Andy Vasquez:
It's simply too early to draw any conclusions about the team. We have a lot of new players and quite a few younger pieces, so it takes some time for the team to gel and to show its full potential. ... I think we've seen some positive progress. And my hope is that these efforts will soon ...
Read Full Article at Bleacher Report - NBA
Article written by Matt Fitzgerald
Mikhail Prokhorov Reportedly Will Become Sole Owner of Nets, Barclays Center
December 2nd, 2015 by Matt Fitzgerald Leave a reply »
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