Prokhorov looking to sell majority share

[steady]

Tsai just bought 49% with an option to be a majority owner in the future.

Prok'horov's management team will still control for several years if reports of sale are true

Tsars team takes over when he gets majority stake

Like said before he lived in NJ/CT/NYC for most of his teens and twenties. Has lived in Hong Kong for rest of years of adulthood. Executive in internet company. Was a Nets fan growing up. I don't see him touching the Markinson structure that's in place

[vincecarter4pres]

Tsai just bought 49% with an option to be a majority owner in the future.

Prok'horov's management team will still control for several years if reports of sale are true

Tsars team takes over when he gets majority stake

Like said before he lived in NJ/CT/NYC for most of his teens and twenties. Has lived in Hong Kong for rest of years of adulthood. Executive in internet company. Was a Nets fan growing up. I don't see him touching the Markinson structure that's in place

Well supposedly he really likes Markinson and the direction of the team as well.

I need to finally get some courtside seats to a game this season before they're unattainably expensive once and for all lol.

[Roy Tarpley]

Prokorov will have to change his name to Sai in a few years.

I like the fact that Tsai went to school in the area, is familiar with NJ, and likes the direction that Marks has taken the team.

I don't like the fact that Tsai/Alibaba denied interest in the Nets twice. C'mon, that's straight up lying. I know that's how business may be done but say no comment or say something like "We're looking at many options." Not sure I can trust someone who starts out his tenure by lying directly to the press/people.

[Paradise]

Jeremy Lin bout to get that extension, y’all.

Joseph Tsai, the executive vice chairman and co-founder of Chinese e-commerce goliath Alibaba, has reached an agreement in principle to purchase a 49 percent minority stake in the Brooklyn Nets that includes the option to acquire controlling interest of the NBA franchise in several years, league sources told ESPN.

The deal excludes the acquisition of the Barclays Center in Brooklyn, sources said. Prokhorov owns a majority share of the arena, and it's expected that a new long-term lease for the Nets will be negotiated soon, league sources said.

Tsai has expressed enthusiasm over the direction of the franchise with general manager Sean Marks and coach Kenny Atkinson, sources said, and ultimately plans to work on bridging his strong Asian business ties into global business opportunities for the Nets.

[Roy Tarpley]

Jeremy Lin bout to get that extension, y’all.

Joseph Tsai, the executive vice chairman and co-founder of Chinese e-commerce goliath Alibaba, has reached an agreement in principle to purchase a 49 percent minority stake in the Brooklyn Nets that includes the option to acquire controlling interest of the NBA franchise in several years, league sources told ESPN.

The deal excludes the acquisition of the Barclays Center in Brooklyn, sources said. Prokhorov owns a majority share of the arena, and it's expected that a new long-term lease for the Nets will be negotiated soon, league sources said.

Tsai has expressed enthusiasm over the direction of the franchise with general manager Sean Marks and coach Kenny Atkinson, sources said, and ultimately plans to work on bridging his strong Asian business ties into global business opportunities for the Nets.

Yeah, it's hard seeing the first Taiwanese owner letting the first Taiwanese NBA player go, regardless of how bleak Lin's future prospects are. The more I read about a patellar tendon rupture -- it's a rare injury and not too many instances of athletes coming back successfully from it. I haven't heard of a single NBA player coming back from it successfully. Lin might squeeze out a few years playing 20 mpg but his calling card first step and speed will be gone. Maybe Coach Lin or VP Lin in several years?

[MrDollarBills]

Well, I'm happy to hear that he is on board with the direction of the team.

and, as others have expressed, having a Taiwanese owner hopefully means that Jeremy Lin will be a permanent fixture with our team no matter if he's on the court or not.

Also, I'm thrilled that the Nets co owner/future owner is a person of color. The Nets are by far one of the more progressive teams in pro sports.

[Prokorov]

Sold 49% for 2.3 BILLION dollars.

Glad prokorov is keeping controlling interest in the team. Say what you want about him early but he learned from his mistakes, h ired the right guys and is now hands off outside of writing checks.

[Roy Tarpley]

Sold 49% for 2.3 BILLION dollars.

Glad prokorov is keeping controlling interest in the team. Say what you want about him early but he learned from his mistakes, h ired the right guys and is now hands off outside of writing checks.

Did you ever realize that you are misspelling his name in your handle? It's Prokhorov, with an h.

[Prokorov]

Sold 49% for 2.3 BILLION dollars.

Glad prokorov is keeping controlling interest in the team. Say what you want about him early but he learned from his mistakes, h ired the right guys and is now hands off outside of writing checks.

Did you ever realize that you are misspelling his name in your handle? It's Prokhorov, with an h.

yes... the correct spelling was taken

[Lorenzomax7]

Read on Twitter

note: his name should be Cheng Ho.

[Papi_swav]

Whoa he sells less the half of the stake of the team and gets more than what he bought it for. I'm not a business man, I'm a business.... man !

[NyCeEvO]

Prokorov will have to change his name to Sai in a few years.

I like the fact that Tsai went to school in the area, is familiar with NJ, and likes the direction that Marks has taken the team.

I don't like the fact that Tsai/Alibaba denied interest in the Nets twice. C'mon, that's straight up lying. I know that's how business may be done but say no comment or say something like "We're looking at many options." Not sure I can trust someone who starts out his tenure by lying directly to the press/people.

This is how just about all major business transactions are done. You don't want anyone to know you're involved until the deal is already done, because it can screw up your negotiations. If you have a good track record of buying or investing in products and someone knows you're interested in obtaining something else, they can swoop into buy the product before the deal is done or simply help to drive up the price by another interested investor, which drives up demand.

Also, I guess you don't remember Prokhorov saying that he had no discussions with Sean Marks becoming GM despite him having discussions and bringing him on shortly after the rumors came out? This happens all of the time.

[NyCeEvO]

Tsai just bought 49% with an option to be a majority owner in the future.

Not surprising at all.

In the past months, some Nets fans were denying this because they believed Prokhorov was really in love with the Nets and these rumors were just people trying to create a storm. I told them Prokhorov is a business man 1st, and a supporter of the Nets 2nd. Just because he's involved with the Nets and actively brags about them doesn't mean he's a diehard fanatic. When you're a billionaire, buying a team can be like buying an expensive cool toy that you show off to your friends. If you can make money off selling it, you're going to do it. People become and remain billionaires by constantly looking for investment opportunities.

[qiantom]

I think the transaction looks good. It will be another four years before Tsai actually take over, right? It will be pretty obvious by that time whether the Markinson combo works for the Nets or not.

[vincecarter4pres]

Tsai just bought 49% with an option to be a majority owner in the future.

Not surprising at all.

In the past months, some Nets fans were denying this because they believed Prokhorov was really in love with the Nets and these rumors were just people trying to create a storm. I told them Prokhorov is a business man 1st, and a supporter of the Nets 2nd. Just because he's involved with the Nets and actively brags about them doesn't mean he's a diehard fanatic. When you're a billionaire, buying a team can be like buying an expensive cool toy that you show off to your friends. If you can make money off selling it, you're going to do it. People become and remain billionaires by constantly looking for investment opportunities.

Very true. Definitely expected Prokhorov to eventually sell, especially after he failed on the court so hard and lost all these potential lottery stars because of Billy King.

[imanshar]

I won't be surprised if Lin re-sign for cheap and then get paid under the table by Taiwanese owners.

[TheNetsFan]

I won't be surprised if Lin re-sign for cheap and then get paid under the table by Taiwanese owners.

No chance. There would be a lot of eyes on a a new owner if something apparently shady were to happen.

That being said, Lin may re-sign cheap, because after 2 injury plagued years, he may not have value around the league, even if he impresses next year,

[imanshar]

I won't be surprised if Lin re-sign for cheap and then get paid under the table by Taiwanese owners.

No chance. There would be a lot of eyes on a a new owner if something apparently shady were to happen.

That being said, Lin may re-sign cheap, because after 2 injury plagued years, he may not have value around the league, even if he impresses next year,

You forgot Kirilenko? even now everyone knows Dirk is getting paid under the table. I am sure Lin is not the type of person to go after the money but this new transaction assured me he is going to retire a Net and he will be rewarded if he sign for vet minimum for example.

[TheNetsFan]

I won't be surprised if Lin re-sign for cheap and then get paid under the table by Taiwanese owners.

No chance. There would be a lot of eyes on a a new owner if something apparently shady were to happen.

That being said, Lin may re-sign cheap, because after 2 injury plagued years, he may not have value around the league, even if he impresses next year,

You forgot Kirilenko? even now everyone knows Dirk is getting paid under the table. I am sure Lin is not the type of person to go after the money but this new transaction assured me he is going to retire a Net and he will be rewarded if he sign for vet minimum for example.

He may sign for the Vet minimum because at the end of his contract, he'll be a 31 year old injury-prone combo guard, and he has more marketing opportunities with Brooklyn. If, coming off an injury, he opts out of his $12.5mil to sign for the minimum, then there will screams of shenanigans.

Kirelenko opted out of $10mil, coming off a very good year on a bad team, expecting to for a MLE type multi-year deal. I believe the rumors were originally that he could be Spurs bound. His options fell through & he ended settling for a 2 year tax payer MLE deal with us. He was one part ring chasing, one part get me out of Minny, and a last part misjudging the market.

Given that Andrei barely played after that 2 year deal, he only left $4mil on the table.

[kamaze]

Sold the team at the right time too the ratings are up, interest in the team is high.