New York Post
Widening the ‘Nets’ for sale
Russian billionaire Mikhail Prokhorov is getting closer to selling the Brooklyn Nets, sources told The Post.
There are multiple suitors late in the process to buy a 49percent stake in the struggling NBA team, along with the right to buy a larger stake and become the controlling owner in three years, sources told The Post.
The sale does not include Brooklyn’s Barclays Center.
Prokhorov is seeking a better than $2 billion valuation for the team, sources said.
Reuters reported Thursday that Alibaba executive Joseph Tsai, who is worth nearly $12 billion, was in advanced talks to buy a stake in the Nets. Tsai denied the story. The Post was the first to report on Aug. 6 that Tsai was interested in the Nets, but could not learn whether he was still in talks.
The Nets are a few months into what became a new sales process after Prokhorov gave up on just selling a minority stake without a clear path to control, a source said.
A Nets spokeswoman declined to comment.