Nets Receiving Interest From Geffen, China, Qatar

Post #1 » by **RealGM Wiretap** » Mon Mar 2, 2015 3:48 pm

The Brooklyn Nets are receiving interest in selling their franchise to parties from the United States and abroad.

Chinese conglomerate Fosun and the Qatari government’s investment fund have signaled an interest in buying the Nets from Mikhail Prokhorov.

David Geffen is also interested one year after he was unsuccessful in purchasing the Los Angeles Clippers.

Dick Parsons, who was interim CEO of the Clippers, also has interest. Parsons would need to line up investors.

The NBA hasn’t given Prokhorov clarity on whether he can sell his 80 percent stake in the team separately from his 45 percent stake in the Barclays Arena, where the Nets play, said one banker close to the sale process.

The league requires an owner to sell the same ratio of team and arena ownership as he originally bought, although it can waive that rule.

Sports Business Journal reported the NBA told Prokhorov he had to sell both.

Some believe the NBA wants the Nets to wait until the Atlanta Hawks are sold.

Via Josh Kosman, Claire Atkinson/New York Post

Porzingis · Post #2 » by **Porzingis** » Mon Mar 2, 2015 5:19 pm

That team is 2 years away from being 2 years away.

Keith Van Horn · Post #3 » by **Keith Van Horn** » Mon Mar 2, 2015 6:05 pm

Porzingis wrote:That team is 2 years away from being 2 years away.

More like 5 years away from being 5 years away

MitchB3 · Post #4 » by **MitchB3** » Mon Mar 2, 2015 8:23 pm

macgyver893 wrote:
Porzingis wrote:That team is 2 years away from being 2 years away.

More like 5 years away from being 5 years away

The Nets just need to rebuild, if not rebuild, they need to re-acquire good players as well as future draft picks. They had a good team with Wallace, Williams, Kris Humphries (You know before the Kardashias) Brook Lopez, and had good quality players, all they really need was another scorer.

MrNYYNYGNYK · Post #5 » by **MrNYYNYGNYK** » Mon Mar 2, 2015 9:43 pm

Nets will be struggling for a few years! They mortgaged the teams future on 2 well past their prime players and less than 2 years later they are both gone! They couldn't even pull off a trade...nice new arena though :lol:

MegaK · Post #6 » by **MegaK** » Mon Mar 2, 2015 11:06 pm

In this day and age where there are more pro basketball players than ever. You can really put together a great team for less money than ever before. There is so much overseas talent and d league talent as well as free agents all over the place that you can put together a nicely talented team without breaking the bank. That is what the Nets should do until they are able to actually keep their own picks in the draft. Get some nice players, put them in a good system and maybe trade a few for some picks if possible. They won't be the team that Brooklyn needs, but they will be the team that Brooklyn needs right now.

ohio · Post #7 » by **ohio** » Tue Mar 3, 2015 12:34 am

macgyver893 wrote:
Porzingis wrote:That team is 2 years away from being 2 years away.

More like 5 years away from being 5 years away

more like Billy King firing away from hiring a decent GM/guy to run the organization and we'll see...

Pickled Prunes · Post #8 » by **Pickled Prunes** » Tue Mar 3, 2015 12:49 am

There was a time when buying a sports franchise required a personal stake in the local community. Clearly times have changed!

Brovva Blaqq · Post #9 » by **Brovva Blaqq** » Tue Mar 3, 2015 8:33 am

Cash rules everything around me,
C.R.E.A.M.,
get the Money,
dolla dolla bill y'all

Phoen-X · Post #10 » by **Phoen-X** » Tue Mar 3, 2015 9:23 am

Qatar is buying marquee sports team here in France (in Paris) for years. Beware my friends, they're coming for you!