Prokhorov Tells Russian Media Nets Have "Explosive Profit Potential"
by Net Income on Dec 23, 2010 9:43 AM EST
in Brooklyn
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In an interview published Thursday in Vedomosti, Russia's leading financial journal, Mikhail Prokhorov once again says the Nets will be NBA champions by 2015 and that his investment in the team and arena will be worth $700 million as soon as they move to Brooklyn in 2012. He also expects to earn an annual profit of $30 million in Brooklyn.
Prokhorov called the Nets a "project with explosive profit potential" noting, "We have a team, we're building the arena, we've hired professional management". He adds that he also holds an option to buy part (20%) of the overall Atlantic Yards. As for the current situation, the Nets' owner tries to divert the interviewer from their on-court problems by playfully noting they have just added draft picks!
Separately, the New York Observer ranks Prokhorov the 38th most powerful person in the city, saying he "embodies a new Russian elite swarming the city." He ranks ahead of Jay-Z (#46), the Dolans (#52) and Bruce Ratner (#109).
- The New York Observer's Power 150 - Mikhail Prokhorov - New York Observer
- Prokhorov shoulders the burden of billions - Andy Potts - Moscow News
A translation of Prokhorov's remarks regarding the Nets follows. It was provided by a spokesperson for Onexim, Prokhorov's investment vehicle.
VEDOMOSTI: Why did you buy the New Jersey Nets? And why aren't things going so well with them?
Прохоров: С чего вы взяли? У нас уже четыре драфт-пика. Не заметили?
Есть команда, строится арена, набран профессиональный менеджмент, есть опцион участия в еще одном крупном проекте - строительстве офисного центра. Для меня в целом это взрывной по стоимости проект. Капитализация команды после переезда в Бруклин будет $700 млн. Она будет зарабатывать миллионов 30. И арена будет стоить под $1 млрд. Планируем в течение пяти лет стать чемпионам NBA. Бруклин - это столица эмиграции, там только 450 000 бывших наших живет, а больших команд, за кого можно болеть, у них нет.
Prokhorov: Why do you say that? We have four draft picks, haven't you noticed? We have a team, we're building the arena, we've hired professional management, we have the option to buy in to another large project, the building of an office center. For me, this is a project with explosive profit potential. The capitalization of the team will be $700 million after we move to Brooklyn. It will earn approximately 30. And the arena will be worth around $1 billion. We are planning to become NBA champions within five years. Brooklyn is the capital of immigration, there are some 450,000 people from our part of the world living there with no major sports teams to root for.
ВЕДОМОСТИ: Какие испытываете ощущения, глядя на баскетболистов снизу вверх?
VEDOMOSTI: How does it feel to be looking up at the basketball players?
Прохоров - Дикий дискомфорт, чувствую себя не в своей тарелке. Страшные ощущения, когда человек на голову тебя выше.
Prokhorov: Terribly uncomfortable. I don't feel at ease at all. It's a horrible feeling when a person is a head taller than you.
ВЕДОМОСТИ: А как вы с маленькими чиновниками общаетесь?
VEDOMOSTI: So how do you interact with small bureaucrats?
Прохоров - Сидя.
Prokhorov: Sitting down.
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Thank God for Proky
He’s literally changing the entire future of this franchise in one fell swoop.
Section 18, Row 7 at The Rock!
by eLonepb on Dec 23, 2010 9:50 AM EST reply actions 4 recs
This team
is in good hands with Prokorhov.
He has proven and is proving that he is vasted in this team for the long haul. The future is bright for this organization. It will just take some time for it to pay dividends.
"Love is lovelier...the second time around
Just as wonderful...with both feet on the ground"
what has he done…. yes he has spent money, but he has spent it FOOLISHLY (outlaw, petro, farmar, et.)
by nets2020 on Dec 23, 2010 12:49 PM EST up reply actions 1 recs
Yeah, because Kobe, Lebron, Derron, CP3, melo
were all available.
by Belarus4life on Dec 23, 2010 1:12 PM EST up reply actions
So wrong
He has spent money to save Brooklyn, on support staff, on coaches, on getting out of IZOD, on marketing the team on getting bad players out and on signing bonuses to draft picks. As Belarus4life notes below, we got what was available to a 12 win team with no home and at that time a relatively unknown new owner.
He has spent to build a team to become a long term consistent winner. What more could you ask for?
by Jay-dub on Dec 23, 2010 1:23 PM EST up reply actions 1 recs
The money spent on those names
Are a FRACTION of what he’s spent on this team in general.
Section 18, Row 7 at The Rock!
I may be in the minority...
but does anyone else wish this guy would keep his mouth shut until the teams starts winning?
Then again, maybe communication is slow from Russia and this message was sent before July when Lebron was still a FA.
Merry Christmas
x0x0
Ever see a guy say "goodbye" to a shoe before?!
by Trenton on Dec 23, 2010 10:17 AM EST reply actions 3 recs
Yes Trenton I believe you are in the minority
Building a winning culture from rubble starts with defining, developing and imbedding a culture of success. As long as Proky is investing his money in the infrastructure to support success (top line coaches, full support staff, awesome arena – sorry for you it is in Brooklyn) AND his personal reputation to reinforce his commitment to winning, then let him talk. It creates the right culture inside the team and will attract the right talent over time.
If he was just sitting back in Moscow blowing smoke about how great he was without investing any money or time to the team, then I would agree. But from my perspective he has done literally everything right and has been very consistent in his messages and most importantly actions.
it is a long haul from 12-70
and they may make mistakes along the way, but at least they are being aggressive.
Absolutely
And 12-70 was the on court result. You could argue that the background stuff was even worse…..Ratner as owner, no support staff to the point of no film analysis, Kiki as coach, IZOD, no fan support, etc. etc…… We were nearly the worst ever win loss team. We might have been the worst ever franchise.
In Proky I trust
Dudes a winner, he looks like he wants no part of anything that’s not good. If it not good, he’ll make it good.
If Proky said he was going to slap you. I would bank it and have it posted online, as if it already happened.
I’m a Barista and the Russian I talk to , are looking to support the team once it gets to BK. You wouldn’t believe how many have good money*.
by Zartan on Dec 23, 2010 5:36 PM EST via mobile up reply actions
No you are not in the minority
If you are a Knicks fan.
If you are a Nets fan, the majority can’t wait to hear the next thing he says. We all wish he would come around more often.
Section 18, Row 7 at The Rock!
I wish he would stop with the 2015 bit.
Love his aggressiveness and willingness to spend money freely. Just think 2015 may be rushing it a bit. Plus, if the Melo trade goes through, it will be a lot longer before a championship is attained. Otherwise he can keep boasting as much as he wants, just stop with the arbitrary deadlines already.
by BrooklynNets on Dec 23, 2010 10:45 AM EST up reply actions
I don't think 2015 is arbitrary or rushed.....
The NBA cycle is maximum 5 years these days. If we expect to have all the necessary assets in place by 2012 – coaches, support staff, new Brooklyn arena, young talent developed (Lopez, Favors, etc.) and star acquired….then 2015 is very realistic. In fact to say it will take longer to be a legitimate championship contender would be saying you are not trying hard enough.
Are you factoring the Miami Heat
they won 13 games straight before losing to the Mavs.
This team is going to click together.
I think Dwight sees this as well and why he has gone “Lebron” on Orlando. Giving them a deadline to win a championship.
Remember the Pistons dominance of the East? True they only went to two nba finals but they stood on top.
The Miami big 3 will click and when that happens I really seeing them owning the East as the Pistons did but the difference will be actually going to NBA finals.
They will lose this year to Boston.
He is not saying championship contenders he is saying win a championship and seriously I doubt anyone other than us give this a second thought.
by killa kadafi191 on Dec 23, 2010 10:58 AM EST up reply actions
Miami as the example for not against....
The ability for Riley to twice create a championship contender (one win so far) from nothing is the example. Draft Wade, trade for Shaq and win it all. Wade hurt, Shaq leavers and you suck. Play the Free Agent game better then everyone else and become a legitimate contender again. All in 5-6 years.
Add in Boston. Add in the Lakers who added Gasol and went from missing playoffs to potential three peats. Consider the Magic who go from finals team to fearing they missed their window to the current crazy trade. Or Portland from loser thugs to young studs to hospital ward in about 5 years. Saying you want to win it all in 5 years is about right. Saying more then that and you are not trying hard enough.
And as for Miami blocking a title for the next 5 years…..I will take the league over Miami every one of those years. Not sure if it will be the Lakers or Celtics holding on. Maybe Chicago getting over the top. The Magic clicking. The Spurs ageless wonders. The Thunder closing hard. Or some other team that puts together the right perfect run like maybe Dallas this year. There will always be good teams. If you build a legitimate championship contender (never a guarantee you will win so you are right on that count) you have a legitimate shot with our without Miami.
Except you cannot expect all that.
If you get Melo you have no Harris or Favors.
You have no draft picks.
You have none of the “assets” acquired over the years (see: Yi, Ryan Anderson, Courtney Lee, CDR, Twill, etc.)
All you have is Melo and Lopez, possibly a lot of cap space (but who to spend it on?), and no PG. You have Farmar, Outlaw, possibly Hump, Morrow, and Damion James.
I don’t see how this makes us anywhere near a championship team? Especially since the Heat and Thunder should still be elite teams (and I bet you the Clips will be in that category soon too).
by BrooklynNets on Dec 23, 2010 11:03 AM EST up reply actions 1 recs
Clips as an elite team?
I am not arguing the specifics of any Melo trade. I have posted before that I truly believe we need a go to star scorer for on court and off court reasons….Melo is not perfect, but fits the bill. I will wait to see which of the thousands of trade permutations actually occurs before I get to excited (up or down).
My point is that our owner is making the right commitment to the team in every way. Does this guarantee greatness….no. But it does give us a shot at being great and that is something most other franchises can only achieve with a lucky draft.
The Clippers
have the league’s next superstar PF on their roster. They are headed in the right direction unless their owner screws it up(which he probably will).
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by MrDollarBills on Dec 23, 2010 11:57 AM EST up reply actions
Not unless....until the owner screws it up.
Blake is an absolute monster and there are other talented players on this team. But the Clippers will never be elite with their owner. No top player (Davis is a movie mogul wannabee not a basketball player) or coach wants to go there. No top player wants to stay there. They got lucky with the draft and it makes them acceptable (still at the bottom of the league though) but they will never be elite until they get a new owner.
I vote for league contraction with the Clippers and Hornets being disbanded and the player put up to the highest bidder. Welcome to Brooklyn Mr. Griffin and Mr. Paul.
IF there was contraction
the players would probably be placed in some kind of dispersal draft/lottery (like they had for the ABA in 76).
and who are we kidding? we all know the clippers are going to either waste griffin’s prime, or see him leave.
It's his nature!
Stereotype but their(Russians) are like Yoda. There is no try, do or do not. If there are no positive results, all the draft picks suck( draft scout goes missing) team continues to lose games, Avery found face down in a river.
by Zartan on Dec 23, 2010 5:40 PM EST via mobile up reply actions
that's harsh
but I wouldn’t look down on the Nets if strong arm tactics are used. Eggs must be broken to make a……
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by MrDollarBills on Dec 23, 2010 5:48 PM EST up reply actions
nope
He’s been open and honest about his opinions. I’d prefer that over some shady real estate developer whose never touched a basketball in his life
I’m worried that we may be giving in too much to Denver, but otherwise, he’s been a godsend to this franchise. He actually gives us reason to believe that things will change
and he likes to party.
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by MrDollarBills on Dec 23, 2010 11:53 AM EST up reply actions
Trenton, I agree with you completely. Call me old fashioned, but the goal of an NBA basketball team is to win
everything else should come AFTER winning.
Outlaw: outplay no one, outwit no one, outlast everyone
I agree with some of Trenton has said
I am excited to have an owner like Proky but at the same time all this championship talk in 3 years is really just all talk.
I mean we have yet to win three games in a row in a span of two years. We have a lot of work to do before we even consider being in the playoffs let alone championship contenders.
This talk is just to get fans excited and show that he is serious about changing the culture of the Nets which is very needed but similar to Blue Print to Greatness and many other “ads” it’s what you do on the court that matters.
by killa kadafi191 on Dec 23, 2010 10:36 AM EST reply actions
the Nets as an organization have sucked for decades
the franchise have been a joke, yet there are those who would prefer being passive and soft.
It’s called risk-taking. It’s what separates winners from losers.
There is a difference between
risk taking and talking slick.
I don’t agree with the whole risk taking perception as I stated before.
talking about championships when you are team has yet to record a 5 game winning streak? The Blueprint of Greatness is looking like a back fire now. Sure it was good for a laugh but now it’s like a joke.
You see people photo shop players like Petro and Outlaw in the ad.
No one is saying for dude to be a punk but at the same time don’t talk slick when you can’t back it up.
Be on the humble tip. I seen Mark Cuban talk loud all the time and his team is always losing.
As I said about risk taking I don’t get that comparison.
I compare the signing of Amare as risk taking.
Outlaw and Petro seem to be more desperation.
by killa kadafi191 on Dec 23, 2010 10:47 AM EST up reply actions
?
I usually value your input NI, but this comment has me scratching my head. Risk-taking doesn’t separate winners from losers, making evidenced based decisions is what separates winners from losers.
I’m not sure where the passive and soft comes in later. To me, it is simply a question of what is smart to give up in pursuit of Carmelo Anthony. If the Celtics had given up a King’s (get it) ransom for Ray Allen, they never would have had the assets to acquire Garnett. This team is in fine position with their draft picks and available cash without Melo. Mortgaging the entire future on an excellent but flawed superstar and overpaid veterans seems more like a poor fantasy league approach then a smart basketball move.
by BrooklynNets on Dec 23, 2010 10:56 AM EST up reply actions 2 recs
I'm all for calculated, sensible risks
building through the draft or going gung ho in trades is a risk either way so we’re going to have to bite the bullet regardless. There’s a difference between taking risks and doing something stupid.
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by MrDollarBills on Dec 23, 2010 11:56 AM EST up reply actions
based on?
what exactly?
I feel bad for my little brother. He walked in and saw that the score of the Nugs-Magic game was 88-89 and thought it was high scoring.
All he knows is the Nets.
by Maxyboy on Dec 14 2010
2010-2011 New Jersey Nets motto: Try Again. Fail Again. Fail Better.
Let me make sure I understand correctly....
$5 billion plus the gold mines plus Favors for California and you throw in Nevada if we add Harris to the deal?
can someone explain why carmelo would sign with the nets? after seeing his sister pass away, im sure melo is thinking life’s too short to be anything bu happy…. melo wil be a Knick
I agree
I think he’d stay with the Nuggets before going to the Nets…
speaking of happiness, here's something off topic
Last night before I went out with some friends I stopped at the local store to pregame. Brought a single coors light and a small shot of smirnoff green apple vodka. I had just finished my drive down Rt. 1.
Anyway, I get to my friend’s apartment to meet up with everyone and she had a massive bottle of some brand of vodka that I have no clue about. I quickly shoved my shot of smirnoff in my inside coat pocket and proceeded to become obliterated with her and three other good friends.
So just now, while fumbling in my coat for my car keys, lo and behold that shot of smirnoff is still inside of my coat pocket.
It is now lunch time.
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by MrDollarBills on Dec 23, 2010 1:11 PM EST up reply actions
a little subliminal christmas gift to yourself?
“trust man, you’re going to need this later…” – Mr. $Bills sub-conscious
my subconscious
pwns. That was the best mid afternoon coffee that i’ve ever had while working in this place
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by MrDollarBills on Dec 23, 2010 3:11 PM EST up reply actions
Mr. DB
If anybody deserves a good night out with ’friends" it is you!
Hopefully your New Year will be just as enjoyable. :)
"Love is lovelier...the second time around
Just as wonderful...with both feet on the ground"
same to you aunt B
i’m sure New Years should be a blast whatever I do.
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by MrDollarBills on Dec 23, 2010 3:12 PM EST up reply actions
That's not happy
D’Antoni can’t lead a no defense team to a championship. The group they put together will win games and make playoffs, that’s it. What the Nets will put together would be more elite.
Nets need new talent scouts in the worst way. How can Jason Williams , shawn Williams , Boone and Twill not be on this team? A lottery player does not produce for a team, the scouts should be replaced right away.
by Zartan on Dec 23, 2010 5:54 PM EST via mobile up reply actions
for real
I seriously feel for that guy right now. I’d be devastated if I lost my sister. Basketball, contracts, trades, all that crap are probably far from his mind right now
have some respect at least, we don’t know the guy but christ
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by MrDollarBills on Dec 23, 2010 1:15 PM EST up reply actions
Thanks Knick fan
You just showed your total class. You registered today and your first post is about how Carmelo should use the death of his sister to be on the Knicks.
Despicable.
Section 18, Row 7 at The Rock!
i was simply saying that often times we turn to material items to bring us happiness (money) etc., yet that doesn’t buy us true happiness. melo should go where he wants to. atleast in my scenario, trajedies often re-align our values.
I understand what you were trying to say
I think like Netking yesterday it just came out wrong.
Maybe instead of saying he would be a knick he would do what he wants.
I lost my mother last year on thanksgiving to colon cancer so my heart does goes out to melo.
Losing someone is hard but imagine around the holidays. Where families are suppose to be together and enjoying life but this happens. The worst thing a day that is use to celebrate family and friends will be reminded that you lost someone you cared about.
I understand what you were trying to get across I just think it came out wrong.
by killa kadafi191 on Dec 23, 2010 3:14 PM EST up reply actions
sorry to hear about your mom, killa
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by MrDollarBills on Dec 23, 2010 3:18 PM EST up reply actions
I am so sorry to hear about your mom killa. I know that losing someone you love is so tough and essentially we never really get over it. I said the knicks bc it is widely believed he wants to be a knick…. if he wants to be a magic or net or nugget then thats that. i in no way intended that too come out as it is being taken on this site. i apologize deeply and am extremley sorry if people read that the wrong way
My belated condolences
to you Killa.
I am deeply sorry about the loss of your mother. Losing a loved one especially a parent is never easy. I lost my father 10 years ago the cancer, and I still miss him tremendously.
You will never get over it. You just learn to get through it. As time goes by the memories of your mother will become like precious jewels; most treasured.
"Love is lovelier...the second time around
Just as wonderful...with both feet on the ground"
thanks to everyone
and sorry to aunt b and anyone who lost anyone. as Dollar said this is one of the websites where we can enjoy basketball together god bless u guys
by killa kadafi191 on Dec 23, 2010 11:04 PM EST up reply actions
So sorry to hear the killa
I cant imagine thhe pain, but I’m happy to have you around here, even though we disagree at times.
Section 18, Row 7 at The Rock!
no problem and feel the same
that was the old me as well . no more problems like that
by killa kadafi191 on Dec 23, 2010 11:03 PM EST up reply actions
sickening
is basketball that serious to some folks? it’s just a distraction.
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by MrDollarBills on Dec 23, 2010 3:17 PM EST up reply actions
Prokhorov called the Nets a "project with explosive profit potential"
Considering that the Nets will get a cut out of all of the events that will be held at the Barclays, you’re damn right.
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the arena company will
which as of now is divided 55% for Ratner et al (aka Nets Sports and Entertainment), 45% for Prokhorov (aka Onexim Sports and Entertainment). I expect that to change by 2012 with Prokhorov having the same 80% he holds in the team.
is there a source where we can see...
the percentage breakdown of ownership for the team? and for the barclays center?
those numbers are accurate
and have been publicized. What is NOT public is the breakdown within Nets Sports and Entertainment, the Ratner controlled entity that now controls 20% of the team. Two of Ratner’s biggest partners were bought out. Dont know how much the others, including Jay-Z, have now. I dont believe anyone but Prokhorov owns part of Onexim.
The Nets do have a seven member board of directors: four nominated by Prokhorov, three by Ratner. From what I can tell, the three Ratner guys are Gary Lieberman, Arthur Rabin and Bruce himself. I know of three Prokhorov nominees: Christophe Charlier, who’s Prokhorov’s deputy CEO in Moscow; Irina Pavlova, who runs Onexim in the USA, and Todd Schafer, Prokhorov’s London-based American lawyer.
Net Income is a beast
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by MrDollarBills on Dec 23, 2010 3:19 PM EST up reply actions 1 recs
meaning he could blow up in his face
it was a great investment. You cant put a price tag on that 60 Minutes piece, the multiple Bloomberg TV interviews or the New York Times Magazine article.
no one knew who this dude was a year ago
it’s crazy, and I’m sure that this is just the tip of the iceberg.
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by MrDollarBills on Dec 23, 2010 1:33 PM EST up reply actions
i think that's what is so interesting about the guy...
i literally had no idea that he existed until he was being discussed as the Nets new owner.
his success
i am sure is being studied in a lot of places around the world. Buy into a team that is having financial problems and instantly get name recognition.
Problem is that Prokhorov has made it look too easy. A lot of things converged that make his case almost unique.
1) He speaks excellent English, with enough of an accent to make him sound mysterious.
2) He had experience running a very successful team overseas.
3) He is willing to invest large amounts of money.
4) most importantly, he has the personality to carry off. He is the Most Interesting Man in the World (His charisma can be seen from space!)
the Nets need to get this ship pointed in the right direction
because I look forward to the escalation of the rivalries with Mark Cuban and the Dolans.
“I do not even know where my own yacht is, who is this Mark Cuban that you speak of?”
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by MrDollarBills on Dec 23, 2010 3:45 PM EST up reply actions
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