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Brooklyn Nets owner Prokhorov says he’s selling 49 per cent stake

Sportsnet logo Sportsnet 4 days ago Associated Press

MOSCOW – Brooklyn Nets owner Mikhail Prokhorov has told Russian media he’s selling a 49 per cent stake in the NBA club.

The Russian billionaire announced his intention to sell a minority stake in December, and now says "49 per cent 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 per cent stake in the then-New Jersey Nets in 2010, moved the team to Brooklyn in 2012, and took full ownership in 2015.

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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.

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