Report: Mikhail Prokhorov moving toward selling the Nets

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Mikhail Prokhorov said he’s selling 49% of the Nets then reportedly warmed to selling controlling interest.

Apparently, he merged plans.

Josh Kosman of the New York Post:

Russian billionaire Mikhail Prokhorov is getting closer to selling the Brooklyn Nets, sources told The Post.

There are multiple suitors late in the process to buy a 49-percent stake in the struggling NBA team, along with the right to buy a larger stake and become the controlling owner in three years, sources told The Post.

Prokhorov was seeking a $2 billion valuation. Considering the Rockets just sold for $2.2 billion, that seems plausible.

It’ll be interesting to see the new minority owner’s path to becoming controlling owner. Hopefully, the arrangement creates a situation as juicy as the one in Memphis.