A long time ago the Los Angeles Dodgers called Brooklyn home. Now the Dodgers ownership group, Guggenheim Sports and Entertainment Assets, are in talks with the Brooklyn Nets ownership group about a potential sale.
Multiple sources briefed on Nets/Guggenheim talks believe it will eventually become a straight sale. Prokhorov actively looking to cash out.
— Chris Mannix (@SIChrisMannix) October 2, 2014
Prokhorov paid $223 mill for the team in 2010. His controlling interest and stake in Barclays Center now likely worth nearly $2 billion.
— Chris Mannix (@SIChrisMannix) October 2, 2014
Brooklyn residents doesn’t necessarily need to worry about the Nets leaving. They have a new arena and Los Angeles has two NBA franchises already. There is also a somewhat contradictory report from Nets Daily which says that it is a combination of assets rather than a sale, though Mannix suggests it could shift to a straight sale.
"In the discussions, the team is being valued at $1.7 billion and the arena at $1.1 billion, said multiple sources. There is no agreement yet, nor a deadline for a conclusion of the discussions. The next step would be an agreement in principle followed by a closing. The combined assets of a new entity could be as high as $8 billion."
There was also apparently a meeting in Moscow, and the combining of the assets would leave Mikhail Prokhorov, who owns 80 percent of the Nets and 45 percent of the arena, in charge of the team “for the foreseeable future.”
Dodgers source says "we don't see any transaction likely to occur re: the Brooklyn Nets"
— Ramona Shelburne (@ramonashelburne) October 2, 2014
Dodgers Chairman Mark Walter: "As for the Nets, I have not seen their numbers. They are a terrific franchise (cont'd)
— Ramona Shelburne (@ramonashelburne) October 2, 2014
Walter (cont'd): "I would be happy to look at their information & any proposal anyone wanted to make to me -- as I would with any proposal.
— Ramona Shelburne (@ramonashelburne) October 2, 2014
More from FanSided.com
MLB: Top division series storylines
MLB 14 The Show Playoff Simulation: Giants vs Pirates
MLB: Ranking the top 5 free agent second basemen
‘CH-Oakland’: Athletics go from World Series team to Wild Card bust