Tag: Mikhail Prokhorov

New Jersey Nets Owner Mikhail Prokhorov Meets with Jay Z

Nets owner jokes he wants to open Barclays Center with Jay-Z


The Barclays Center in Brooklyn is going to open this fall with a Mikhail Prokhorov concert…

Well, not exactly. It’s going to be a couple nights of Jay-Z shows. That probably sells a little better.

But the Nets majority owner apparently thinks he is going to join the minority owner and face of the franchise during those opening shows… okay, Prokhorov is probably joking. Maybe somebody should have run that joke by Jay-Z first.

Here is what Prokhorov is saying, according to Crain’s New York (via SLAM).

In February, the owner of the Brooklyn Nets, Mikhail Prokhorov, appeared on a Russian television comedy show called Spotlight Paris Hilton, and offered a musical tribute to his co-owner, hip-hop star Jay-Z.

“Mr. Jay-Z, this rap is for you,” went the English portion of the lyrics. “Mr. Jay-Z, this is the first presentation/of real rap music from Russian Federation. Mr. Jay-Z, you are not alone/Mikhail Prokhorov on the microphone.”

According to Mr. Prokhorov, a reprise is in the works, but this time in downtown Brooklyn, where Jay-Z will open the $1 billion Barclays Center with a series of sold-out concerts this fall. “Yes, I will rap at his concert,” Mr. Prokhorov informed Crain’s via email. “I am in rehearsals now 10 hours a day and plan to demand joint billing.”

First… yes, he’s joking around.

Second, there is a Russian comedy show called “Spotlight Paris Hilton?” How did I not know this and where can I find bootleg copies?

Third and finally, maybe this isn’t happening but I would love it if it would.

What luxury tax? Nets new payroll massive because owner not concerned.

Mikhail Prokhorov Introductory Press Conference

Let’s run through the Nets starting five and their salaries for next season:

Point guard Deron Williams, $17.2 million; shooting guard Joe Johnson $19.8 million; Gerald Wallace $9 million; Kris Humphries $12 million; Brook Lopez $13.7 million.

That is $71.7 million, not counting incentives some players may hit. That is with a salary cap of $58 million and a luxury tax threshold of $70.3 million. That’s not counting Mirza Teletovic at $3 million, Reggie Evans at $1.6 million, MarShon Brooks at $1.2 million or any salary from the other six or so guys needed to fill out the roster.

And every one of those starters will make more next season.

There is a new luxury tax looming in a couple years, a punitive one that has teams scared. The more over the tax line you are, the higher the tax rate. If you’re over the tax line three years in a row, you pay fines on top of the tax. Look at it this way, the Lakers $16 million dollar-for-dollar tax this season would have cost them $52 million in 2015.

Nets owner Mikhail Prokhorov doesn’t care. The Russian billionaire made more money in interest since you started reading this article than you will all year. Plus for him, owning the Nets is part of a larger real estate deal around the arena — the Brooklyn Yards project — that will make him a lot more money. If the Nets are a draw but a loss-leader in that equation, so what?

Prokhorov knew he needed a better team to open the Barclay’s center and told GM Billy King to go out and buy one.

You can justify each an every one of these signings individually. Williams is one of the best point guards in the league and the team’s franchise player. Johnson is still an All-Star point guard and his level of talent was needed to make sure Williams didn’t bolt for Dallas. Gerald Wallace is pretty good at both ends of the floor. The Nets needed a big man and Lopez had other teams ready to step in and give him a max deal, so to keep him that was the price.

As for Humphries, yes he is overpaid at $12 million a year but with a short two-year deal he is still a trade chip the Nets can try to use to get Dwight Howard after Jan. 15 (the soonest they can move any of the players they re-signed this summer).

But man, together that is one healthy tax bill coming due. That new, harsher CBA and luxury tax really only matter if an owner is concerned about the bottom line of that team by itself. Prokhorov is in it for a bigger picture.

Kirilenko says 50/50 he returns to NBA; if so think Utah, Nets

Turkey Basketball Euroleague Final Four

Andrei Kirilenko had to watch from the sidelines with an ankle sprain the last couple games as his team — Russian powerhouse CSKA Moscow — wrapped up another Russian League title after being part of the EuroLeague final four.

So, now what for Kirilenko? Does he stay in Russia? Return to the NBA? If so, where?

He doesn’t really know, he told Russian site sovsports.ru (translation via Sportando).

“I haven’t decided my future yet. There are 50-50 chances for me to stay or to go. I just want to say that if I stay in Europe, it will be with CSKA Moscow. I won’t play for any other team. I am going to weigh my options. It is going to be a very busy summer” said Kirilenko,

Assuming he does leave for the NBA (and the interviewer thinks he will, if Google Translate did its job right) Kirilenko said that the Utah Jazz and Brooklyn Nets are the “priority.” Utah is where Kirilenko has played before (and they could use him) while Brooklyn is owned by Russian billionaire Mikhail Prokhorov (and they could use anybody).

At some point I expect Kirilenko will return to Russia to play a few more years and finish his career, but I expect him back in the NBA next season.