Atlantic Yards Report blogger Norman Oder notes that Russian businessman MikhailProkhorov should still buy the Nets even if Bruce Ratner’s plans for a Brooklyn arena and apartment towers falls through, and the reasons have more to do with Kremlin intrigue than concessions at Newark’s Prudential Center. “There are two reasons Prokhorov might not require the Brooklyn...
Atlantic Yards Report The proposed purchase of a majority interest in the Nets by MikhailProkhorov, Russia's richest man (at a reported $9.5 billion) may seem to be a toy (as per the New York Times) for the oligarch. After all, it would cost him just $200 million down (all borrowed) plus a willingness to absorb Nets' debts and losses--hundreds of millions of dollars more--to gain 80%...
Rumors swirl about where the Nets will play and if Brooklyn fails, who will own them. There are reports the current owners are having trouble arranging the financing for Barclays Center. And how with the Court of Appeals ruling affect all this? One thing does appear certain: while all that is going on in New York, the Nets’ prospective owner, MikhailProkhorov , is getting richer while...
The proposed purchase of a majority interest in the Nets by MikhailProkhorov, Russia's richest man (at a reported $9.5 billion) may seem to be a toy (as per the New York Times) for the oligarch.After all, it would cost him just $200 million down (all borrowed) plus a willingness to absorb Nets' debts and losses--hundreds of millions of dollars more--to gain 80% of the team and 45% of...
Huffington Post Before the richest man in Russia actually goes through with the deal to buy the NJ Nets, for which the State of NY is poised to sieze Dan Goldstein's home, Goldstein released a "Dear Prokhy" letter in hopes of attracting the attention of the NJ Nets prospective owner, recently dubbed the "people's billionaire" by Boston Celtics CEO Wyc Grousbeck. As you are a people's...
“I just did meet Mr. [Mikhail] Prokhorov last week in New York as part of the [NBA] interview process and was favorably impressed. For a billionaire, he's a people's billionaire. He's a regular guy with a whole bunch of money, seems like to me." — Boston Celtics CEO Wyc Grousbeck in a recent appearance on NECN's CEO Corner . * * * * * * Dear Mr. Prokhorov, We write to commiserate...
When Russian billionaire MikhailProkhorov bought the New Jersey Nets he probably bragged to his Russian billionaire homies about owning a franchise in America’s prestigious NBA. He told them how he was gonna hang out with Jay-Z, build a new stadium in Brooklyn, and land LeBron James in next summer’s free agent race. His enthusiasm [...]
... to do it. Earlier this year, he even sold 80 percent of the team to Russia’s wealthiest man, MikhailProkhorov. It remains to be seen whether Ratner will get shovels in the ground before Dec. 31, his last chance to qualify for tax-exempt bonds to fund the project. If he misses that deadline, the project could be dead. link
... season or two before a potential move to Brooklyn. Host Andrew Meyer noted that expected new owner MikhailProkhorov has been reported (secondhand) as being open to buying the team at a reduced price and keeping the team in Newark. "Nets management still says the [permanent] Jersey option is moot," said Meyer. "What's the reality now?" "The reality is we're...
... season or two before a potential move to Brooklyn.Host Andrew Meyer noted that expected new owner MikhailProkhorov has been () as being open to buying the team at a reduced price and keeping the team in Newark. "Nets management still says the [permanent] Jersey option is moot," said Meyer. "What's the reality now?""The reality is we're in a powerful negotiation right now that [outgoing...
... kitchen and pool house are other features. As we noted back in February, Russia's richest man MikhailProkhorov had reportedly agreed to purchase the Villa for $750 million but later backed out of the deal, forfeiting a $55 million deposit. In May we reported that the recession had caused the estate's value to plunge significantly. Owner Lilly Safra did not re-list the property right...
