Pursuits
Mikhail Prokhorov Completes Acquisition of Nets, Barclays Center
- Russian billionaire had 80% of team and 45% of Brooklyn arena
- Deal values team at about $875 million; arena at $825 million
Mikhail Prokhorov and Brooklyn Nets player Joe Johnson chats during training camp.
Photographer: Kent Smith/NBAE/Getty ImagesThis article is for subscribers only.
Mikhail Prokhorov is now the sole owner of the Brooklyn Nets and Barclays Center.
The Russian billionaire completed his total acquisition of the NBA team and arena from developer Bruce Ratner’s Forest City Enterprises Inc. The deal values the team at $875 million and the arena at $825 million including debt, according to a statement from Forest City. That’s about 10 percent lower than the $1.9 billion previously reported by Bloomberg.