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.

 ??  ?? PROKHOROV Out of the game?
PROKHOROV Out of the game?

Newspapers in English

Newspapers from United States