It appears Brooklyn Nets owner Mikhail Prokhorov won’t be selling the team, as the Russian billionaire has ended his agreement with investment bank Evercore Partners, according to ESPN’s Darren Rovell.
Prokhorov hired Evercore back in January to explore a possible sale of the Nets after Steve Ballmer paid $2 billion to purchase the Los Angeles Clippers over the summer. Prokhorov owns 80 percent of the Nets and 45 percent of Barclays Center, the state-of-the-art arena where the Nets play.
Prokhorov bought the Nets for about $220 million in 2010, but now his stake in the team and arena could be worth around $2 billion. Even so, and even with the rumblings around a possible sale, it looks like it won’t be happening anytime soon:
One league source with knowledge of Prokhorov thinking told NetsDaily last week, "they'll be around for a while."
— NetsDaily.com (@NetsDaily) March 11, 2015
Now the Nets need to figure out things on the court. This season is slipping away, and there’s not all that much hope for the future. For example, the team’s draft pick this year, which could wind up in the top 10, will be swapped with the 50-13 Atlanta Hawks’ pick because of the Joe Johnson trade. Woof.