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February 09, 2016 4:53 PM ET

Media

Company Overview of Brooklyn Nets, LLC

Company Overview

Brooklyn Nets, LLC owns and operates as a basketball team. Brooklyn Nets, LLC was formerly known as New Jersey Nets and changed its name to Brooklyn Nets, LLC in 2012. Brooklyn Nets, LLC was founded in 1967 and is based in Brooklyn, New York.

15 MetroTech Center

11th Floor

Brooklyn, NY 11201

United States

Founded in 1967

Phone:

718-933-3000

Fax:

718-942-9595

Key Executives for Brooklyn Nets, LLC

Chief Executive Officer and Chief Executive Officer of Nets Basketball
Age: 48
Principal Owner
Age: 50
Chief Financial Officer and Executive Vice President of Business Operations
President of Onexim Sports and Entertainment Holding Usa, Inc
Chief Administrative & Relationship Officer and Executive Vice President
Compensation as of Fiscal Year 2015.

Brooklyn Nets, LLC Key Developments

Mikhail Prokhorov Eyes 100% Stake In Nets And Barclays Center

Mikhail Prokhorov is considering acquiring Bruce Ratner's stake in Brooklyn Nets, LLC. He seeks to hold 100% stake in Brooklyn Nets and the $1 billion Barclays Center. Mikhail Prokhorov owns 80% of the team and 45% of the arena. "We can confirm that Onexim Sports and Entertainment is looking at various ways to restructure debt owed to the company in connection with its U.S. assets. One possibility is the conversion of such debt into equity and consolidation of shares, but there are other scenarios also under consideration by Onexim and its partners, and no decision has yet been made," Mikhail Prokhorov’s spokesperson said. The team is worth $1.5 billion.

Mikhail Prokhorov Denies Selling Entire Stake In Brooklyn Nets

Mikhail Prokhorov is not planning to sell his entire stake in Brooklyn Nets, LLC, but is looking to sell a minority stake. “I never intended to sell the team and we have looked at selling only the minority stake,” said Prokhorov in his first appearance at Barclays Center since early November. “And for the time being there is nothing on the table.” Mikhail Prokhorov said.

Brooklyn Nets Reportedly Draws Interest

A handful of potential suitors are interested in making a play for Brooklyn Nets, LLC as the auction gears up, The New York Post has learned. Fosun International Limited (SEHK:656) and the Qatari government's investment fund have signaled an interest in buying the pro basketball team from majority owner and Russian billionaire Mikhail Prokhorov. Interest is also coming from music mogul David Geffen. Former Time Warner boss Dick Parsons has eyed the Nets, sources said. All of the potential suitors either couldn't be reached or didn't return calls seeking comment by press time, New York Post reported.

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