The struggling franchise is up for sale
Russian billionaire Mikhail Prokhorov has decided to sell the Brooklyn Nets, only five years after acquiring majority ownership in 2010 for $223 million.
Prokhorov has been more than willing to spend on the Nets in the past few seasons (as seen by over inflated contracts to Joe Johnson, Deron Williams, etc), to get them to that championship level, but the team has not produced on the court or in finances. Head Coach Jason Kidd bolted to the Milwakee Bucks last summer, the team now sits with a 16-22 record and the chances of them sneaking into the Eastern Conference playoffs look dimmer by the day.
According to Grantland, the Nets lost $144 million in basketball related business last year, only $131 more than the next worst team, the Washington Wizards, who only lost $13 million in 2013-2014.
It’s time to bail and re-haul the entire organization, right?
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