Prokhorov: Nets Will Be Worth $1 Billion by 2015
by Net Income on Jul 27, 2010 2:40 PM EDT
in Brooklyn
244 comments
The cover of August's Forbes Russia shows a tall man in a suit holding a basketball, and asks, "Mikhail Prokhorov and American basketball: Who Will Be the Winner?"
In the article, "I told America I come in peace," Prokhorov goes over much the same ground he has in press conferences and interviews with U.S. media, but talks more about the team's financial prospects.
The Nets' owner says the team will continue to lose money in Newark but the team's move to Brooklyn, plus his ambitions to create a dynasty, will make the Nets both profitable and valuable, suggesting the team will be worth $1 billion and earn an annual profit of $20 million.
Excerpts from "I told America I came in peace":
"I hope that this asset, which I bought for $200 million, will be worth at least $1 billion in five years. We got in at the right time."
"Brooklyn is a country unto itself. Even the Americans themselves say that. It's the center of immigration. It has a unique energy to it. Tens of millions of people who now live in the US came through Brooklyn. When I've travelled around to different cities, people have come up to me and said, 'We're Brooklynites. Give us a great Nets team and we'll root for them.'"
"The structure of the deal is such that, before the move to Brooklyn, we plan to have a certain budget deficit. That's built in. But from the time we move to Brooklyn, the team becomes profitable."
In answer to the question of what the profit will be in two years:
"Around twenty milllion dollars. That's a conservative estimate."
In answer to the question of Phil Jackson having been interested in Nets
coaching job:
"He said he wanted to drink vodka with me. But the problem is I don't drink vodka! (He laughs). By the way, that 's one of the stereotypes, that, if it's a Russian, there must be something screwy going on. We're going to break the stereotypes."
In answer to the question whether this project is about business or
image:
"When you're talking about the business of sports, you can't leave out passion and love. That's why, in this business in particular, I need to be maximally careful, so that my passion and love for basketball don't interfere with my business reasoning. It has to do with balancing my own internal interests and here I will be very self-disciplined."
- By 2015, the Nets will be bigger than the Lakers (maybe) - Daniel Marks - DIME
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What did we learn about making proclamation too early?
Be confident, but don’t do it so early in the game. Last thing we need is to look like the blowhard who couldn’t live up to the big talk again
I'll take this attitude ANYDAY
Over the sappy, unenthusiastic, losing mentality that has ravaged this team for so many years.
+1
Even if he doesn’t come close to that number, I’ll take this over Ratner ANYDAY.
"We aim above the mark to hit the mark." -- Ralph Waldo Emerson
"We're looking at hiring the Red Army choir to perform at half-time along with Russia's top dancing bear collective." -Mikhail Prokhorov
"Don't worry about my cap" - Lou Lamoriello
exactly
Nets fans are afraid of being led by a man with confidence.
I’d rather put trust in someone who believes in himself instead of someone who is scared to take a step off of the front porch
"No one stands on the top of the world. Not you, not me, not even gods. But the unbearable vacancy of the throne in the sky is over. From now on...I will be sitting on it."
by MrDollarBills on Jul 27, 2010 1:01 PM EDT up reply actions
Well I'd rather put trust in someone whose head is in the real world than up in the clouds
I mean, in 5 years we’re gonna be almost twice as valuable as the Lakers? I mean, go ahead and make statements. But make sure you can back them up. Because if not you look like the guy who’s always all bark, no bite.
I'll err on the side of the
20 billion dollar man
-Say man when I was growing up we wanted a Jacuzzi, we had to fart in the tub.
Worth is more than about the winning
The Spurs have titles yet are only 10th in worth. We could win 5 straight titles and not be worth a billion dollars. The Knicks however are worth 586 million even if they totally suck.
his head is in the real world BUT
all that money isn’t fantasy.
the issue is whether he is arrogant about being able to play in the AMERICAN business milieu which is quite different from the Russian.
Not talking about pro sports vs. nickel and gold mining. Talking about US vs. Russia. He seems to trust in a small circle of people with amorphous responsibilities and vague hierarchies.. That aint gonna fly if your business interests include the world’s sixth largest gold reserves, an NBA team, a $100 million Turkish resort complex, a plan to build a $10,000 hybrid car, the leading Russian business channel, etc., etc, that ain’t gonna fly.
The only time this man's head is up in the clouds...
…is when he is flying in the G5
Or would you prefer someone like Bruce Ratner, or the other clowns that have owned this team for the last 30 years?
You don’t change direction by being timid and afraid.
You have to take risks, you have to give to get. The Big P sticking his neck out and making bold claims is not anything to get alarmed about.
Look at how the Jets players were ready to kill people last season because their leader had a pair and wasn’t afraid to be confident. That stuff trickled down to his players. I see nothing wrong with being confident, even if you fail. Those with confidence who fail are the ones that usually dust themselves off and get back up. That is a true winner right there. Prokhorov already failed once, yet, he shrugs it off and gets right back at it. This is the guy that I want owning the franchise that i shell out my hard earned money towards. I don’t want cowards or cheap dirtbags with ulterior motives owning this team and taking my money.
"No one stands on the top of the world. Not you, not me, not even gods. But the unbearable vacancy of the throne in the sky is over. From now on...I will be sitting on it."
by MrDollarBills on Jul 27, 2010 1:38 PM EDT up reply actions
It's called "fluff"
Prokhorov knows the Nets won’t be worth a billion dollars in 5 years. He’s keeping himself newsworthy and perhaps even hoping a superstar player sees it and is intrigued enough to come join the Nets. Let’s not forget it’s also within his 5 year plan to win a championship as well. I don’t care what happens as long as I can watch a solid Nets team night in and night out.
by TheMann2 on Jul 27, 2010 2:06 PM EDT via mobile up reply actions
In answer to the question whether this project is about business or
image:
“When you’re talking about the business of sports, you can’t leave out passion and love. That’s why, in this business in particular, I need to be maximally careful, so that my passion and love for basketball don’t interfere with my business reasoning. It has to do with balancing my own internal interests and here I will be very self-disciplined.”
Love this quote, shows that he’ll be patient and smart with it rather than careless and get stuck in financial debt for mediocre players that wouldn’t win us a championship anyway… sorta like Detroit with Villaneuva and Gordon.
I’m excited, this is gonna be good for the nets to make some money and get us a better team! Thank god!
Yup.
I think this was a very shrewd investment by Prokhorov. To be honest, I think he got lucky again when he was unable to purchase the Knicks and decided to go for the Nets because there is so much upside with the Brooklyn market and the Barclays Center. When we look back in 10 years I think Mik’s purchase of the Nets will be one the best business decisions in sports revenue. He’s a very shrewd operator he knows what he’s doing.
In fact I would argue that by 2015 the team will be worth more than a billion.
sure...
all those kids out there are running out to buy Outlaw and Farmar jerseys…
Ever see a guy say "goodbye" to a shoe before?!
by Trenton on Jul 27, 2010 12:18 PM EDT up reply actions 1 recs
you make poor assumptions....
…that this will be the Nets roster in 2015.
"No one stands on the top of the world. Not you, not me, not even gods. But the unbearable vacancy of the throne in the sky is over. From now on...I will be sitting on it."
by MrDollarBills on Jul 27, 2010 12:57 PM EDT up reply actions
i know
i’m just so sick of hearing “in five years…”
we heard that in 2005, 2006, 2007 and then i was 2 in 2008, 1 in 2009, months in 2010 and now 5 years again in 2010.
its quite depressing, especially after this offseason and pie in the sky quotes from our owner in a the Russian Forbes magazine which also probably has a profile on Russia’s most profitable borscht company.
Ever see a guy say "goodbye" to a shoe before?!
Amen Trenton.
Enough with the lies Prokhorov, just go away.
Russians love 5 year plans
if you find the Nets “depressing”, that’s not good. They’re a basketball team.
explain to me your plan for an instant, one year turn around
This isn’t the Ratner regime anymore
at least give the man and a chance before you start killing him. This is why I’m starting to understand why Net Income trashed this fanbase, the attitude is so negative and pathetic it’s pissing me off. I understand where you are coming from, hell I understand where Isaac is coming from as far as wishing that the team would stay here, but I’m willing to give these folks a chance.
The Nets acted intelligently after it became clear that LBJ was not coming here. They improved the roster, fixed holes(with just another PF left to add to start until Favors is ready), and Thorn departed leaving the Nets better off than we were a year ago at this time….picks, cap room, young talent, flexibility. You need to think bigger instead of being mad that we didn’t do something stupid like signing anyone not named Lebron James or Dwyane Wade to a max deal.
"No one stands on the top of the world. Not you, not me, not even gods. But the unbearable vacancy of the throne in the sky is over. From now on...I will be sitting on it."
by MrDollarBills on Jul 27, 2010 4:57 PM EDT up reply actions
Please man...
They crying over giving Outlaw 7M per for 5 years…lol. When RJ is getting more for 4 years(year 4 Team Option) For 12ppg and 4rpg
The NETS are coming!
Well said Trenton!!!
Only after all the Anthony Morrow and Johan Petro unis are ripped off the racks.
come on not this again
lets build a team and develop a star first before we start talking,
by killa kadafi191 on Jul 27, 2010 12:08 PM EDT reply actions
Too. Much. Talking.
That’s all it is.
All these five year plans are for naught considering its only 2010.
Ever see a guy say "goodbye" to a shoe before?!
How can it be all for naught
when, like you said, it’s only 2010. If it’s 2015, and if the Nets are still a bad or mediocre team and not worth much more than it is now, then yes, it was all for naught.
hey mills16
I think the recession will end in 2018.
How does that make you feel TODAY?
I get what you are saying but we live in a “what have you done for me lately” society…at least i do.
Ever see a guy say "goodbye" to a shoe before?!
oh the joys of being 16
and living at home
i kinda envy that but yeah the recession is bad news, bro
Ever see a guy say "goodbye" to a shoe before?!
hahahaha...
16? living at home? hahahahaha
I own my own home…I know that the recession is bad and effects all people…it’s called sarcasm…get a sense of humor
He is a smart business man, no doubt. Brooklyn could make this one of the most lucrative franchises for years. He needs a star, though and, given his luck, one of these draft picks will turn into a star. If not, I don’t see it happening unless Jay-Z starts getting friendly with CP3 or Melo.
Jay was real friendly with Lebron and we see how that played out...
It’s all about manufactoring our own stars. The right marketing can make anyone a star…. ANYONE.
We crowned Lebron KING before he even registered an NBA minute. And the same for WALL. And next year Harry Barnes, Killa Kyrie, Perry Jones come on down. We have guys who can be those types. T-Will, Favors, DJames even Morrow have a shot to become THAT guy. And if they perform sky will be the limit.
The NETS are coming!
if we qualify for the lottery
you never know what we can end up with.
Stay the course. Develop the talent. Make smart, prudent moves and don’t jump out of the window because a few folks can’t understand what a rebuilding process should consist of.
"No one stands on the top of the world. Not you, not me, not even gods. But the unbearable vacancy of the throne in the sky is over. From now on...I will be sitting on it."
by MrDollarBills on Jul 27, 2010 4:59 PM EDT up reply actions
This is just stupid.
Just throwing out ridiculous claims like this makes you sound like a fool. I think the most expensive franchise is worth around 600 million.
Since the face been revealed the game got real
The Lakers were worth around 600 million last year
Really, in 5 years were gonna be worth more than the LA Lakers?
You wanna project an aura of confidence, but in order to do that, you have to walk the walk, not just talk the talk
Five years ago, the Warriors were worth $243 million
They just sold for $450 million last week.
I’m not saying this will happen with the Nets, but depending on the nature of the market in five years $1 billion is not out of the realm of possibility.
by Newark2Brooklyn on Jul 27, 2010 3:36 PM EDT up reply actions
I understand what you are saying
I wasn’t thinking of G.S when this came out but what are the chances they double again?
Since the face been revealed the game got real
With the Nets? Impossible to tell
If the brand in Brooklyn really takes off, and Barclays is as great an entertainment center as people believe it will…Definitely possible.
by Newark2Brooklyn on Jul 27, 2010 3:42 PM EDT up reply actions
I don’t think it will happen by 2015. That’s too soon. When the arena is completed, there will be a lot of value there. When we start establishing a strong fan base, there’s going to be value there as well. 5 years is too soon, unless there’s massive inflation.
Yeah, it's unlikely. But if the Arena is ready in two years as scheduled
& the Nets brand is successful in Brooklyn, it’s certainly possible.
by Newark2Brooklyn on Jul 27, 2010 3:47 PM EDT up reply actions
he's a self made billionaire
calling him a fool is laughable bro. He isn’t some idiot who was handed his life on a plate like the clown that runs the Knicks
"No one stands on the top of the world. Not you, not me, not even gods. But the unbearable vacancy of the throne in the sky is over. From now on...I will be sitting on it."
by MrDollarBills on Jul 27, 2010 12:59 PM EDT up reply actions
To say you will be worth twice as much as a franchise that has won as much as athe Lakers will be worth in 5 years is just plain funny. Say I am taking this team to new heghts say any number of things but 1 billion in 5 years is just silly. I have been supportive of him from the start but these claims do not make you relevant just foolish.
Since the face been revealed the game got real
It is nice to see that...
a) some of you are finally starting to think for yourselves as opposed to accepting anything the “moderators” give you as fact and b) that people are starting to see through this man’s utter bs. How about signing one half-way decent player before you go bragging about what an empire you are building up.
Admitting the team will continue to lose money in Newark means he could care less how the team does when it plays there which is evident by their approach this off-season. It is maddening that this is what the New Jersey fans get for all their years of loyalty to this team.
would love to know the relavance of that question Net Income
and as i’m sure you know by now, I don’t equate having billions of dollars to be being some kind of super hero. Your idol is not a good man just like your previous one before him, Ratner wasn’t either. How much their net worth is could not be any less of a sign of what kind of people they are that you are looking up to. If that is what you are teaching your kids, I feel sorry for our future.
wow gone that quickly
-Say man when I was growing up we wanted a Jacuzzi, we had to fart in the tub.
Ah that guy, below me
-Say man when I was growing up we wanted a Jacuzzi, we had to fart in the tub.
The team will lose money in Newark
because its Newark and NJ, haven’t we established this already?
-Say man when I was growing up we wanted a Jacuzzi, we had to fart in the tub.
I don't know, i didn't make up that
Prokhrov said so
-Say man when I was growing up we wanted a Jacuzzi, we had to fart in the tub.
Proko better watch his back
if he’s walking around brick city after sayin that.
nah, nets will probably lose money, but not cause they are in NJ, but because the team is horrible and no one wants to sit in traffic before exit 144 to catch a game.
Ever see a guy say "goodbye" to a shoe before?!
I thought mass-transit was such a viable option?
Proky isn’t scared of Newark lol
-Say man when I was growing up we wanted a Jacuzzi, we had to fart in the tub.
Team certainly is horrible
We have Prokhorov and his bold promises to thank for that – obviously none of the free agents were too impressed with his predictions, coupled with the likelihood that outside of LeBron, Prokhorov had no intention of spending real money on this team while it plays in Newark anyway, setting up the next two years to fail before they even begin so he can make his score in Brooklyn without any real negative feedback from the state for leaving.
or,
No free agents were keen on the idea of playing in New Jersey…
But that could never be the case right? What’s not to love about Jersey
-Say man when I was growing up we wanted a Jacuzzi, we had to fart in the tub.
NJ is not the reason
have you ever been to Cleveland, Utah or Oakland? (this coming from a Raiders fan too)
NJ looks like (any city not LA, San Diego, Vegas or Miami) compared to those places.
Ever see a guy say "goodbye" to a shoe before?!
Well we are on atleast a two year plan, so hopefully we can set everything up and draft well and be ready to win by the time we get to Brooklyn if not sooner.
Since the face been revealed the game got real
did you
copy and paste that comment from the old netsdaily message board circa 2007?
Ever see a guy say "goodbye" to a shoe before?!
It's the same NETS
whether in Brooklyn or New Jersey, it is still the Nets
-Say man when I was growing up we wanted a Jacuzzi, we had to fart in the tub.
quite simple
the Nets are tenants in Newark and will be owners in Brooklyn.
by Net Income on Jul 27, 2010 2:44 PM EDT up reply actions 1 recs
+1 Loving it
And
i just feel like the New City will bring a New fresh energy. The last time the nets won a chip they played in NY…lol
The NETS are coming!
it will lose money in newark, thats why they are leaving he wants to make money not lose. So stop crying over loyalty this is about money NOT YOU
you kind of hit the nail on the head netsallday
It is about money – but that does not mean we as fans shouldn’t be loyal. Team ownership making hundreds of millions on a real estate deal that has nothing to do with basketball SHOULD NOT be our concern. Supporting the team in the state that it has represented for the past three decades should be. Don’t know how you are missing this point. Do you have stock in the team finacially?
They are leaving due to a lack of ability to make money
Don’t you get that already?
-Say man when I was growing up we wanted a Jacuzzi, we had to fart in the tub.
Poor Isaac
I’m sorry man… Your taking this real hard. But truth is…. I am a net fan and have been for 20 years now. And finding a passionate Nets fan is like trying to find diamonds or oil using a plastic spoon. Yes it is possible but highly unlikely. You really need to let this go. There was no real support for the Nets in Jersey Winning or Loosing. It is what it is. It took 30 years to decide on a move. Be happy you got 30 years. Vancouver didn’t even get that long.
The NETS are coming!
thanks you for at least understanding MRBDOWN
finding true Nets fans is hard but there are many more than you think and given the chance to play in Newark for the long-term would make a HUGE difference. If you care about the team staying there, you shouldn’t just give up and join the Brooklyn bandwagon? Do you honestly think there are “passionate” Nets fans in Brooklyn? I lived there for many years, the Nets were a LAUGHINGSTOCK there as I supported them through thick and thin. And now those are supposedly the “fans” of this team?
Brooklyn will Support BROOKLYN...
Pretty much. Of course they didn’t support the East Rutherford NETS. That place was a dump and people in Jersey wouldn’t even come out. I’m excited about Brooklyn. Actually excited about Newark as well. But more so Brooklyn. Location is awesome and we will get a entire New set of fans. It’s all new!
The NETS are coming!
thats great Mrbdown
advocating a “whole new set of fans”. And then you wonder why people like me are so pissed off about this. Can the Broooklyn crowd be any more selfish and inconsiderate of those of us that WERE the fans of this team all these years?
Really not enough of "us" to effect any Change
Hence the inevitable. You are the only one i hear crying like you are… So maybe just maybe its just you. And in that case its the greater good theory.
The new fans will be cool. Just like the new fans in New Orleans and in OKC. It is what it is. You still will be able to drive to see your team if they are your team. Ask the fans in Seattle if thy can still drive to see Durant and be home in time to see the evening news…
The NETS are coming!
Theory doesn't equal practice
You really believe that a bunch of long time Knicks fans who have been living there for decades will just convert only becase the Nets move there. The truth is that most fans will never convert no matter how bad their team is. By that logic, maybe everyone should have just stopped liking the Nets for that terrible season where they only had 12 wins, though there were some teams that had worse seasons than they did. Seriously, if they had the choice to root for a real NY team compared to a transplanted team, which one would they choose? My guess would be for the real NY team, which happens to be the Knicks, rather than a transplanted team such as the Nets. I doubt that they are going to support it just because it has the Brooklyn name on it, and I am still waiting for evidence on that, but nobody has ever proven it beyond a blanket statement. For some reason nobody has answered my question on where these so-called fans of them moving were before it was ever an issues. Overall, if Brooklyn was able to survive without the Dodgers after they left, then can survive without having the Nets.
by Tal Barzilai on Jul 28, 2010 3:29 PM EDT up reply actions
exactly Scooby
None of us knows for sure (except Net Income of course). The team has not played a regular season game in Newark or Brooklyn as of yet, so we have NO IDEA factually what will happen. We are all offering our opinions, some of them are respected on here and some of them aren’t.
In all likelihood with an ownership group that was committed to staying in Newark and eventually even a decent team and all the transportation and amenties upgrades the new arena offers, the team would be highly successful in Newark but unfortunately it looks like we’ll never know. And yet people like Income will still tell you it failed in 2 years if this move goes through even though they would not have been given a real chance to make it work in the first place.
Perhaps Proki was referring to the "investment" being worth $1 Billion
Remember, Proki not only bought the team, he also bought a minority stake in the arena (which, because he owns the debt, may end up being the majority stake in the arena) and the right to own part of the larger Atlantic Yards development. To that end, I think it’s pretty safe to say that the “investment” (team + arena) will be worth $1 Billion in five years….the arena itself costs $900 million now….what will it be worth in 2015?
+1
I buy that. You don’t become worth 15 billion dollars by being stupid. This makes sense. The Barclay’s center will be the premiere indoor venue in NYC. Hands down. So I am sure that money will be made there along with the Team.
The NETS are coming!
You sound like your ordering Chinese...lol
NOO MSG..lol.
It’s like having a really old car. Is it a “Classic” or just a piece of trash? And most times you know the answer when a brand new model pulls up alongside you…lol
The NETS are coming!
I hope you are right
Well that is totally different then the Nets. When you read that it sounds like the team its self. Maybe it was the translation but the way this article comes across it makes him look kind of silly imo.
Since the face been revealed the game got real
I looked at other teams worth and if the Lakers and Knicks value of around 600 million. So how is it a no brainer when in the last 5 years no nba team’s value is increased even close to 500 million? If the 1 billion is including the whole Barclays then thats different if you ask me.
Since the face been revealed the game got real
but the NETS own the arena
so how does that make it different?
"No one stands on the top of the world. Not you, not me, not even gods. But the unbearable vacancy of the throne in the sky is over. From now on...I will be sitting on it."
by MrDollarBills on Jul 27, 2010 3:23 PM EDT up reply actions
Nice to hear an owner expressing his vision and enthusiasm
That means he cares, and would like to see this endevour a success. Not just like another business that he needs to make money from.
By expressing this, he’s communicating to the fans, building a connection between owner and fan base. Totally different from the previous principal owner. Obviously a big improvement.
There’s nothing wrong to set goals, realistic goals. In fact you always need goals in all aspect of life.
Goals make you focused, and guides you on every move/transaction you make.
This guy know what he’s doing. And he’s not afraid to talk about it. I like that.
For the pessimists, not achieving your goal does not make you a failure. If you think you tried everything to achieve it, that in itself can be a success.
"Beat the Heat!"
by faNETicS on Jul 27, 2010 1:40 PM EDT reply actions 3 recs
someone make this man green
-Say man when I was growing up we wanted a Jacuzzi, we had to fart in the tub.
love your positivity...
but it does nothing for me.
do we have to be come the cleveland browns of the NBA til we have an excuse for our bitterness?
Nets won 12 games last year…HORRIBLE
THey did barley anything in the offseason in terms of getting better/new players, our owner is riding jet skis in turkey talking about things that maybe sounded bad and intimidating in 1980 movies starring louis gossett jr.
until game 1 we have a RIGHT to be pessimistic and bitter about the abortion that has been the past year and change
Ever see a guy say "goodbye" to a shoe before?!
-1
Barely nothing??? We got 4 new guys who are young and have pretty good skill sets. They will get more chance to play here. Gone is Jarvis, Bobby Simmons, Trent Hassell and Josh Boone. We turned the Roster over pretty well.
The old guys played OLD. And we made solid moves to get new blood. And we drafted well. Favors, James and T-Will have great upside. And overpaying for risky guys who wouldn’t fit would just relegate “our” guys to the bench. I am satisfied with our moves. If they get Anthony Tolliver I will be good.
The NETS are coming!
how was he going to make Lebron come here Trenton?
seriously, if you guys know by now that there was a plan in place between James-Wade-Bosh, what did you want the Nets to do?
Some of you are not being realistic, or honest, when doling out this criticism.
"No one stands on the top of the world. Not you, not me, not even gods. But the unbearable vacancy of the throne in the sky is over. From now on...I will be sitting on it."
by MrDollarBills on Jul 27, 2010 3:24 PM EDT up reply actions
if i knew, then i should have been consulted
which i wasn’t so its not important.
i just don’t get how this team has been sooooo bad and people kept telling me, wait til the offseason…ok ok wait til the season, ok ok, wait til the draft….ok ok, wait til lebron, ok ok wait til…..
and they see what we got as a result and its like christmas morning to them. To each his own sure, but come on. How are you optimistic right now after that god awful season and a game has yet to be played.
What has been done so far this offseason does not come close to making up for what took place last year…regardless of what Yormark says about his Memory Holes.
Ever see a guy say "goodbye" to a shoe before?!
I'm optimistic because....
…we have a new regime in charge, a head coach with a proven track record, draft picks and cap space out the wazoo, a young roster that will be competitive, and flexibility for future moves.
You wanted a quick fix. Reality does not work that way.
"No one stands on the top of the world. Not you, not me, not even gods. But the unbearable vacancy of the throne in the sky is over. From now on...I will be sitting on it."
by MrDollarBills on Jul 27, 2010 4:28 PM EDT up reply actions
how can someone go through life
and not set goals?
"No one stands on the top of the world. Not you, not me, not even gods. But the unbearable vacancy of the throne in the sky is over. From now on...I will be sitting on it."
by MrDollarBills on Jul 27, 2010 5:07 PM EDT up reply actions
He cares about money and money only fanetics
don’t think for a second he cares about the fans – what few there currently are of this team.
Of course
He’s about money. Everyone knows people buy teams as an investment, not a hobby. Regardless, he realizes there’s a lot of potential in profiting from buying the team and one of the best ways to profit is to put a winning team on the court. If he wants to win, then I’m all for it. I couldn’t care less if he only wants to do it for the money.
If he was the genius he say he is...
He could make this work in Newark. He has ll the tools already in place – a new arena which is highly regarded (even linked as much on this site), a supposed top notch coach and a fan base in New Jersey that would probably take this team back in stronger force than ever if we ever had a winner to support and an owner that “cared” running it.
However he isn’t even giving this a chance and that is why I have zero respect for him and this team at this point.
Of course, he cares about money. Who doesn't?
Don’t be a hyppocrite.
I like money too. Lots of them.
It is a business to him. It’s even clear to make money in 2 years. And he’s hoping the value of the franchise to be a billion dollar. It’s clear he wants to make money from it.
The difference is that he has passion in owning a basketball club.
And that’s what fans really care about. Real fans.
"Beat the Heat!"
He cares about fans
those are his clients.
he knows the business. No Fans, No Money.
Very simple, really simple.
I don’t know what part of that you didn’t understand.
"Beat the Heat!"
that's why he reached out to the fans more than once, right?
including a Q & A with NetsDaily?
Only a fool would take a dump on their fans and the expect support. Ratner did so and paid the price. Prokho is not stupid. He wants fans from this state AND NY.
"No one stands on the top of the world. Not you, not me, not even gods. But the unbearable vacancy of the throne in the sky is over. From now on...I will be sitting on it."
by MrDollarBills on Jul 27, 2010 1:53 PM EDT up reply actions
ha ha!
The Lakers are the most valuable team in the NBA and the 49th most valuable in sports, worth $US607 million
The Knicks are in the 500m range.
The Brooklyn Nets are going to be valued at nearly twice the price of the Lakers and Knicks? LOL!
Again, I think he's talking about the value of the investment
I’m not sure how this article was translated, but I would be he is saying that the investment (arena + team) will be worth $1 Billion in 5 years, which, again, is a pretty safe bet.
Do any of you getting bent out of shape over this article (Isaac, etc.) really think that its unrealistic that a 45% stake in a billion arena and an 80% stake in an NBA team located in New York City would be worth $1 Billion by 2015?
people are just complaining just to complain
First it’s about Avery, then it’s about Williams, then it’s about Brook, now it’s Prokho
who is next on the “list”
"No one stands on the top of the world. Not you, not me, not even gods. But the unbearable vacancy of the throne in the sky is over. From now on...I will be sitting on it."
by MrDollarBills on Jul 27, 2010 1:56 PM EDT up reply actions
MrDollarBills
I can’t speak for everyone but being skeptical over this statement is valid imo. From now on I will try your approach just blindly agree with everything Net Income says maybe this will work better for me.
Since the face been revealed the game got real
by BL3ACH on Jul 27, 2010 2:57 PM EDT up reply actions 2 recs
first of all
Net Income will be the first to tell you that I don’t agree with everything that he says. I almost actuaLOL’d when I read that bro
second, I am looking at his statement from more than the perspective of just the team value, but the overall investment. He could very well be right, but it seems like folks are so quick to jump down his throat for saying something like this due to us not being able to land the big fish in free agency, that they aren’t taking the time to examine the context of his claim in full.
"No one stands on the top of the world. Not you, not me, not even gods. But the unbearable vacancy of the throne in the sky is over. From now on...I will be sitting on it."
by MrDollarBills on Jul 27, 2010 3:45 PM EDT up reply actions
Well, if the value of the dollar will be the same as the Yen ...
then the $1B assessment will be right on.
"Beat the Heat!"
How much of that money would also need to be paid back during that time?
I think Prokhorov chose his words purposely (TEAM being worth $1B) to create intrigue among players around the league. Even with the arena finished in 2012, or whenever, it still wouldn’t make 100% profit. the loans would still have to be paid back, possibly taxes, staff has to be hired etc.
by TheMann2 on Jul 27, 2010 2:23 PM EDT via mobile up reply actions
yes
because the arena is already worth over 1 billion. so no, he was talking about the team.
HOPE
“I hope that this asset, which I bought for $200 million, will be worth at least $1 billion in five years. We got in at the right time.”
He says that he HOPES it’ll be worth $1 billion. Why are people getting on him for HOPING…?
Who knows what he is really saying...
He reads like a Yakov Smirnoff comedy bit. Something like… “By time Brooklyn, I wish Nets be worth much billion dollars”
by thepapers on Jul 27, 2010 2:25 PM EDT via mobile up reply actions
I think DeMarcus Cousins would have pushed us over the edge of exactly 1 American billion dollars.
Without him we’ll never achieve such a lofty goal.
I’m kidding. I know that trading Terrence Williams is the only way.
I keep feeling like this guy...
Is selling us a bill of goods. Like he is trying to sell us a used car or something. I’m not even sure he will own the team in 5 years, let alone the team being any more valuable than it is now. I can see him building up some hype, waiting for the move to BK and then selling the team to some chumps for a marginal profit.
by thepapers on Jul 27, 2010 2:20 PM EDT via mobile reply actions
What you say makese zero sense
Just know that
-Say man when I was growing up we wanted a Jacuzzi, we had to fart in the tub.
LOL I have said “is that tracy morgan” a few times also
Since the face been revealed the game got real
All for show
for the cameras
-Say man when I was growing up we wanted a Jacuzzi, we had to fart in the tub.
No it makes perfect sense.
Invest millions into a project and buy a franchise at it’s lowest with the potential to become a global team with revenue mirroring that of the New York Yankees.
Only to move it into the most expensive arena in the NBA and then sell it within the first two years of existence without letting the product that has the potential to expand into a multi-billionare cashcow before it even takes off.
Best Regards,
IsaacNJN
With an investment that large...
Making 3% or 4% is actually a nice profit. I receive income from a trust worth over 2 million. The trust earns 5%-7% intrest anually. That might not sound like a lot but when you do the math me and my sister split 100,000 – 140,000 a year. The dream scenario would be to take the franchise from nothing to a billion dollar brand but that is very risky. Making a quick little profit is also a very valid strategy. One that many super rich people follow. Like Wu Tang Financial said… “In, Out, Get, Grab, Bonk”
Disagree
While the scenario you painted is one utilized by many business men and is a common strategy among investors it is one that Prokhorov would not implore in a situation such as this. His net worth and the potential for said investment to net a very very large profit (we’re speaking billions) lead me to believe that Mik isn’t going to utilize the HQ (hit it and quit it) strategy.
I don’t think the potential for this franchise to be an exorbitant cashcow can be fully realized and equated. To invest in a situation such as this is one that would profit most in the long-haul, and as an extremely shrewd business-man I think Prokhorov understands that and that’s why he purchased this team.
according to you
that’s your opinion and I can’t help you with that.
GO PROKY! GO BROOKLYN NETS!
Me and my friends on long island fully support this as season ticket holders!
by JohnFromLongIsland on Jul 27, 2010 2:46 PM EDT via mobile reply actions
Technically Prokhorov's investment
will go up…no doubt about that….. how much is to be determined
but if you count the arena, sponsorships, team worth, internationally ….. who knows…
John Hollinger and ESPN analysts can say Proky failed….. but at the end of the day… he’s worth more than ESPN itself…… HOLLAHHHHHH
I struck gold.
Got a whopping 4.5 %
Consequences will never be the same.
by NetsMets4Life on Jul 27, 2010 3:45 PM EDT up reply actions
Considering how the Nets did last year, you could probably buy an entire Big Mac Meal with that
by Newark2Brooklyn on Jul 27, 2010 3:48 PM EDT up reply actions
Sad part is.
That’s gotta be true.
Consequences will never be the same.
by NetsMets4Life on Jul 27, 2010 3:52 PM EDT up reply actions
Ok lets be honest we are not turning into a billion dollar team.
But setting your goals high is the only way you will make a living in life, and that is what I like most about Prokhorov.
Consequences will never be the same.
According to Net Income valuing this team at a billion dollars is a “no brainer”
Since the face been revealed the game got real
Wait. You are telling me that
Net Income said evaluating this team to be worth One billion dollars in 5 years is a “no brainer.”
I have no clue how he would know that.
Consequences will never be the same.
by NetsMets4Life on Jul 27, 2010 3:16 PM EDT up reply actions
???
Yeah because Proh would own 80% of the team. Yeah I don’t see it but some are including the whole Barclay property in the value. But either way it is in no way a “no brainer” when the most valuable team now is around 600 million
Since the face been revealed the game got real
The Lakers are worth a little over 600 million.
We are not going to catch up to them for at least 3 decades.
Consequences will never be the same.
by NetsMets4Life on Jul 27, 2010 3:37 PM EDT up reply actions
read below
it’s best you read what I actually said not what someone with limited knowledge said I said.
if he owns 80% of the arena a billion dollars for the team and arena is a no-brainer.
by Net Income on Jul 27, 2010 2:47 PM EDT up reply actions
Since the face been revealed the game got real
LOL Are you calling me dumb?? You could of said limited information lol J/K
Since the face been revealed the game got real
no, i am saying your information is limited
and it is.
I dont know you so I cannot assess your intelligence, only your knowledge of this situation.
never said that
what I did say is that this team AND THE ARENA could EASILY be worth a billion dollars in five years. The arena, in case you haven’t been following the news is going to cost $1 billion to build.
Right now, Prokhorov owns 80% of the team and 45% of the arena. Under certain conditions, easily obtainable, his interest in the arena would go to 80%. The value of the team will be enhanced by the arena, which will be the newest in the NBA in the biggest media market in the world..
I hope you understand, but I doubt it.
I heard he might get a stake in the Atlantic Yards project (Im blanking out, is that what it's called?)
Is there any truth in that? And owning a stake in Atlantic Yards would not have anything to with his Nets ownership, would it?
And thanks for the info.
Consequences will never be the same.
by NetsMets4Life on Jul 27, 2010 3:44 PM EDT up reply actions
Of course it will.
But I am asking does a potential Prokhorov stake in it mean anything to the Nets?
Consequences will never be the same.
by NetsMets4Life on Jul 27, 2010 3:51 PM EDT up reply actions
He has an option to buy up to 20%
of the $6 billion dollar Atlantic Yards project. According to a Russian business publication, he can exercise that option for $120 million.
So does that mean he can turn part of the project into a carnival called NetsLand? Like, can he do whatever he wants with it?
Consequences will never be the same.
by NetsMets4Life on Jul 27, 2010 4:01 PM EDT up reply actions
You said if this and that happens all I said was it is NOT a no brainer
A lot of things have to happen or that statement to come true would you disagree???
Since the face been revealed the game got real
it's a no brainer
it’s a no brainer. it’s a no brainer.
The arena will be worth $1 billion. He already owns 45% of the Billion dollar arena. That’s $450 million. All he has to do to get to 80% is add another $38 million in construction financing. Then his investment would be worth $800 million.
The team is worth now $250 million because HE owns it and because of the arena.
you are at disadvantage. You haven’t read all the documents I have. You haven’t talked to the people I have.
ROFL
That is different: the only thing I saw is that statement then I checked the value of the of the most valuable franchises saw they were worth 600 million and was like how is he going to be worth twice as much as the Lakers in 5 years when his current value is less then half of them? That didn’t add up to me
Since the face been revealed the game got real
I really do hope
that in Brooklyn the Nets get an expanded and more optimistic fan base. It would be refreshing.
by Net Income on Jul 27, 2010 3:43 PM EDT reply actions 1 recs
I second that notion.
Im all for clearing space on the Bandwagon.
People talk about how horrible we were for a season but the Knicks have been worst and for longer ad they keep selling out. Knicks’ fans aren’t so quick to trash their team. And when you get on them about the Knicks’ if they cant fight you off they don’t join with you on bashing their squad. What is this with the Nets fans?? Correction…. These Nets Fans
The NETS are coming!
exactly
the attitude around here is putrid.
"No one stands on the top of the world. Not you, not me, not even gods. But the unbearable vacancy of the throne in the sky is over. From now on...I will be sitting on it."
by MrDollarBills on Jul 27, 2010 3:48 PM EDT up reply actions
While I absolutely agree,
what did you expect after a 12 win season and losing out on the big names this summer? Fans who do not read into material and information like most of us are sick and tired of this organization.
Consequences will never be the same.
by NetsMets4Life on Jul 27, 2010 3:50 PM EDT up reply actions
It's All New.
Consequences will never be the same.
by NetsMets4Life on Jul 27, 2010 4:05 PM EDT up reply actions
exactly
and they’ve already been tossed under the bus
"No one stands on the top of the world. Not you, not me, not even gods. But the unbearable vacancy of the throne in the sky is over. From now on...I will be sitting on it."
by MrDollarBills on Jul 27, 2010 4:48 PM EDT up reply actions
Sick and Tired???
After one horrible season that you knew was going to be bad? We got rid of VC and RJ for cap space. No one saw those moves and said we are going to the Finals….lol. Were you here for the Kidd era? These last 10 years have been great compared to the 20 years before that.
Get serious….lol
The NETS are coming!
I am saying that casual Nets fan saw this past year and felt sick and tired.
I certainly do not mean myself, or you or anyone on this website. We are more than casual fans.
Consequences will never be the same.
by NetsMets4Life on Jul 27, 2010 5:16 PM EDT up reply actions
I can just speak for myself
The only things I had a problem with is Outlaw and this statement. Name anything else I have not been behind?
Since the face been revealed the game got real
what you will get Net Income
is a bunch of Knicks converts (if the Nets arrive there with a better team) otherwise known as BANDWAGGONERS. You will also get people that have mocked, ridiculed and largely ignored the Nets for years (I know, I lived there) , you will get some yuppies living in nice areas like Cobble Hill and Brooklyn Heights that know little to nothing about the NBA but might think its en vogue to attend an NBA game at a billion dollar arena and you will get some impressionable young kids that think anything in Brooklyn is “cool” and therefore might not have a strong allegiance to the Knicks.’
Sounds like an awesome fan base, enjoy Income!!!
You would think he would be happy with any kind of people on this site??
Since the face been revealed the game got real
All the nets have to do is win one nba championship b4 the knicks and they gonna be at about 600 million just because they are in new york
Yes.
Because winning a championship will be easy to do ;)
Consequences will never be the same.
by NetsMets4Life on Jul 27, 2010 3:54 PM EDT up reply actions
You realize it takes chemistry and hard, hard work and development to make a championship team
I am not saying it is impossible, but just because Kobe and LeBron will be “old” doesn’t mean this is going to get any easier.
Consequences will never be the same.
by NetsMets4Life on Jul 27, 2010 3:58 PM EDT up reply actions
Wait. You mean the team as it currently is constructed?
Consequences will never be the same.
by NetsMets4Life on Jul 27, 2010 4:07 PM EDT up reply actions
um
this is what the Nets are trying to do now
Develop. Build.
Some people want instant turn around but that would be impossible and we’re not getting wink wink deals like how Boston and Los Angeles did to get their stud players.
Pull up your bootstraps
"No one stands on the top of the world. Not you, not me, not even gods. But the unbearable vacancy of the throne in the sky is over. From now on...I will be sitting on it."
by MrDollarBills on Jul 27, 2010 4:50 PM EDT up reply actions
Let me get this straight, Proky is saying the TEAM can be worth 1 Billion dollars in 5 years?
Not the arena’s worth added to it, but the actual worth of the team?
Consequences will never be the same.
let me help you
his interests in the team and the arena are owned by Onexim Sports and Entertainment Holdings, USA.
He bought ALL OF IT for $200 million (plus an agreement to assume $175 million in team debt and eat up to $60 million in future losses while the team is in New Jersey). That $200 million is the benchmark for his point that his investment in the team will be worth $1 billion. He may be using the term “team” loosely. You will note as well that he does not ascribe any value to the arena.
Thanks. That makes sense. Keep reading up, NI, you will become the smartest Nets fan in the world, hahaha.
Consequences will never be the same.
by NetsMets4Life on Jul 27, 2010 4:21 PM EDT up reply actions
Well if so then let us not start thinking that Proky is saying that the NETS will be worth a billion dollars in just 5 years.
Consequences will never be the same.
by NetsMets4Life on Jul 27, 2010 4:06 PM EDT up reply actions
lets start thinking that way
since the two are intertwined in every possible way, mostly through his investment.
1 Billion dollars...?
I don’t understand HOW an NBA team can be worth that much.
Insert career ending injury to “star” player (Chris Webber) and where does that put you?
Isn’t basketball just a little too fickle?
"We're not talking about me and Darko in the same sentence." - Chris Webber vs KAHN!
by caseycheesecake on Jul 27, 2010 4:26 PM EDT reply actions
People thought
Xanadu would be a big hit too
(wommm wommmmm wooooommmmmmm)
Ever see a guy say "goodbye" to a shoe before?!
It looks more like the Xanadu-du lol
by TheMann2 on Jul 27, 2010 4:58 PM EDT via mobile up reply actions
sigh
the sky is falling
"No one stands on the top of the world. Not you, not me, not even gods. But the unbearable vacancy of the throne in the sky is over. From now on...I will be sitting on it."
This franchise is a joke
For all the hoopla about the money at the Nets disposal, this is an absolute DISGRACE.
We have a billionaire owner, and we had to get Boozer to have a chance, and what do we do? We let the Bulls come in and pull the rug out from under us.
So what have we accomplished this season? An expletive MURAL on a building?
We spend money on fruitless advertising, but sit on our hands on the last FA that could help us wrap this thing up? I didn’t even want Boozer but if we HAD to do it, screw it as long as we got LBJ because we have enough young talent to go along with Bron and Boozer.
Mikhail, you had me sold on you, but the moment you left Thorn and the pack of clowns in charge, you screwed up.
i have no problem with losing out and continuing with the rebuilding, but if our rivals land Lebron, we will bleed money like a broken piggy bank
How many season ticket holders right now are pissed that they wasted their money? 20 wins seems like an attainable goal
Epic failure. If the Knicks land lebron, forget it. Move the team out of the area already. I’m tired of being insulted by the ownership of the Nets, it doesn’t matter who is in charge, we’re still being run like a 3rd rate outfit
We all must love punishment to continue on with this nonsense. I love the kids on this roster, but do you think they are going to put butts in seats??? NO.
and guess what? There is no one on the market next year that will either
WE MESSED UP.
WE’RE DONE.
The entire front office can burn in hell.
I’m sorry DB, i had to post this. Unless of course your evil twin posted this a few weeks back
this is another attempt by Prokhy
to brainwash us into thinking he’s going to make the team better, when it’s obvious he won’t, this whole team is a travesty………whoa, sorry, out of body experience.
You people have poor reading comprehension skills
In the article he clearly says " I hope that this asset, which I bought for $200 million, will be worth at least $1 billion in five years" He bought the team AND his interest in the arena for $200 million. He never said “I hope the Nets will be worth $ 1Billion in five years”. As I (and Net Income) pointed out above, he currently owns 45% of a Billion dollar arena and 80% of an NBA team that will be in New York City in 2 years. It’s plausible that the value of the “asset” will be worth $1 Billion the day that arena opens in Brooklyn.
There is a reason for that
As long there has hardly been any investigations done on Proky, he will always be seen as a shady person. If he really has nothing to hide, then the investigation shouldn’t be a problem for him. Of course I don’t good faith as evidence that he is telling the truth, because that can mean anything and be found false in the near future. Perhaps, he should be put on a lie detector just to see if he really does have relations with Mugabe. If he refuses, it only raises even more suspicions that he is hiding something.
by Tal Barzilai on Jul 28, 2010 3:52 PM EDT up reply actions
Think about it this way
The Mets are absolute garbage and are disappointing in every possible way. YET, they are the third most valuable franchise in baseball. May not get to a billion in five years, but man, that guy’s going to make some bank. Its NYC’s first new professional sports team in over 40 years!
If the Nets are 2nd most valuable to the Knicks
that is a W in my book
-Say man when I was growing up we wanted a Jacuzzi, we had to fart in the tub.
What jerks
“roundabouts”
Consequences will never be the same.
by NetsMets4Life on Jul 27, 2010 10:09 PM EDT up reply actions
I'm still waiting....
for the “Big Surprise”…..
Didn't he say October/November?
-Say man when I was growing up we wanted a Jacuzzi, we had to fart in the tub.
seriously i need to stop reading these posts
they make me depressed…… people are such fake net fans…..its soo sad
you know how much heat i get for being a nets fan in new york….. yet i’m proud of it…… meanwhile we’re still debating why “net fans” are “crying” over the move to brooklyn
if you’re a net fan…continue to support the nets…. period
also… Proky is our saviour….yet ppl want to banish him becuz he “didnt deliever” … who cares… he’s only been in charge since May……..RELAXXX
fail
Just lay out your criteria for excatly what Nets fans should say and how they should feel. I know where do some of them get off? I can’t wait to seek out these fake Nets fans and deal with them. Hey we could get to the point where when the articles come out instead of comments we could just put +’s throughout the whole page who needs discussion.
Why can’t each poster just post their own opinion without dramatic backlash? If they are not happy they should pretend they are anyway to protect your mental health? Instead your could just try to address your depression maybe with prozac, see how that works first before we censor a whole website to meet your emotional needs.
Since the face been revealed the game got real
You're the man PP Face
-Say man when I was growing up we wanted a Jacuzzi, we had to fart in the tub.
Not sure if anyone commented, but Proky seems more comfortable with the name Brooklyn Nets, after his travels.
This could be a story unto itself, because previously many believed he would call the team the New York Nets again.
I also would agree that he may really mean that his "whole investment", including the Arena, would be worth 1 Billion.
Afterall, how much has Proky really invested of his own money? Has anyone kept track, because I thought it was around 500 million including the infrastructure contribution. Doubling his investment over 5 years is not spectacular.
Has anyone learned if Proky had exercised his 20% option in Atlantic Yards?
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