In all likelihood, several NBA owners have recently pondered what the value of their team is and how much of a profit they could make. The dreadful and lowly Milwaukee Bucks, a team based in a very small media market, was recently sold for $550 million. The Los Angeles Clippers were just bought for $2 billion. It’s quite possible that Mikhail Prokhorov and his colleagues have mulled the idea of how much are the Brooklyn Nets worth.
If Prokhorov were to put the Nets up for sale, would he get $2 billion or even more?
When Prokhorov purchased the team he shelled out a total of close to $443 million, which including funding for the Barclays Center, team debt, operating losses, and purchase of the team. As he had purchased the team in May of 2010, Prokhorov proclaimed that he would make the Nets a championship team within five seasons.
As the last few years have gone on the Nets value has definitely sky-rocketed. Since Prokhorov has become the team’s owner the Nets have acquired big name players like Deron Williams, Paul Pierce, Kevin Garnett and Joe Johnson, moved to Brooklyn where they built a state-of-the-art arena, and made the playoffs in two consecutive seasons.
People have reportedly contacted Prokhorov about the availability of the Nets and what they would offer. However, it’s important to note that Prokhorov has not been the one to initiate those talks.
In a few years, maybe Prokhorov will move on from the team and decide to sell the franchise. Prokhorov, though, is a smart and incredibly successful businessman. His goal has always been to bring a championship to the Nets. A championship typically raises the value of any team and would do exactly the same for the Nets.
The Nets value will likely grow even if the team does not win a championship but remains highly competitive. Prokhorov has always been the type to spend whatever money the team needs on players in order to improve. That alone will keep the team competitive because players will want to play for the Nets and for him.
It’s inevitable that at some point Prokhorov will decide to give up the team. That time is not now.