The Brooklyn Nets could soon be under new ownership. Multiple reports indicate Nets owner Mikhail Prokhorov is trying to sell the franchise and has enlisted a firm to help him complete the sale.
Bloomberg News, Bleacher Report and ESPN both reported Prokhorov has put the Nets franchise on the market.
Per ESPN:
"Russian billionaire Mikhail Prokhorov, five years into his failed championship pursuit as Nets owner, has made it known that the team is up for sale, according to league sources.
"Sources on Tuesday confirmed a Bloomberg News report stating that Prokhorov has retained Evercore Partners to sell the franchise he acquired majority ownership of in May 2010 for $223 million. A league source said Evercore will gather bids potentially as soon as the end of the month.
"Sources likewise confirmed a report from Bleacher Report that the struggling Russian economy is a factor."
Nets officials, though, denied the team was actively being shopped around for a buyer.
"As we have said for many months, ownership is always open to listening to offers - that's just good business," a representative for Prokhorov said, according to ESPN. "There is nothing imminent in terms of a sale of any stake in the team."
Brooklyn's race for a championship last season fell short, and they're sitting this season with a 16-22 record. Seemingly with no chance of winning a title any time soon, Brooklyn's injury-prone core group of players - Deron Williams, Joe Johnson and Brook Lopez - reportedly are available to be had in a trade.
In terms of business, Brooklyn lost $144 million in basketball-related business, seemingly giving Prokhorov less of a reason to stick around.
