• Newsletters
  • Facebook
  • Twitter
°
Sunday, April 30, 2017
View complete forecast
News-Sentinel.com Your Town. Your Voice.

Brooklyn Nets owner Prokhorov says he's selling 49pc stake

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.The Associated Press
Friday, April 21, 2017 06:28 am

MOSCOW - Brooklyn Nets owner Mikhail Prokhorov has told Russian media he's selling a 49 percent stake in the NBA club.

The Russian billionaire announced his intention to sell a minority stake in December, and now says "49 percent of the Brooklyn shares are up for sale," in comments reported by R-Sport.

He adds that "currently the process is going on and we are looking for a buyer."

Prokhorov took an 80 percent stake in the then-New Jersey Nets in 2010, moved the team to Brooklyn in 2012, and took full ownership in 2015.

Brooklyn went 20-62 this season, which was the worst record in the NBA and its third consecutive season below .500.

The Nets last made the playoffs in 2015, losing to the Atlanta Hawks in the first round.

Comments

News-Sentinel.com reserves the right to remove any content appearing on its website. Our policy will be to remove postings that constitute profanity, obscenity, libel, spam, invasion of privacy, impersonation of another, or attacks on racial, ethnic or other groups. For more information, see our user rules page.
comments powered by Disqus