A 12-win season has forced many Nets fans to find new ways to

Written by GMJigga and Cpawfan

'Twas the waiting before Prokhorov, when all through the site
Every fan was posting their plan with delight;
The cap space was waiting to be used with great care,
In hopes that Prokhorov's checkbook soon would be there;
The top free agents are headed to the playoffs to win,
While the second tier guys are hoping to cash in;

CDR in the gym, Wall with his draft cap,
Terrence missing practice for a long Summer's nap,
When out of the Yards there arose such a clatter,
I took the Path train from Hoboken to see what was the matter.
Quick off the L train I flew like a flash,
Dodging hipsters on fixies, with a belt as a sash.
It was Goldstein debating on new-melted snow,
Surrounded by homeowners who just would not go

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As ground-breaking for the Barclays Center approaches, NetsDaily is offering a series of reports on "The Prokhorov Effect".

Sunday's report focused on Prokhorov the man, Monday's on an examination of his wealth . Tuesday's focuses on how his ownership could affect the future of the Nets.

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As ground-breaking for the Barclays Center approaches, NetsDaily is offering a series of reports on "The Prokhorov Effect".

Sunday's report focused on Prokhorov the man, Monday's on an examination of his wealth and Tuesday's on how his ownership could affect the future of the Nets.

Continue reading this post »

Who is Mikhail Prokhorov?

He is the most interesting man in the world!

Mikhail Dmitrievich Prokhorov is a singular figure in Russia and now the larger world...6'9" tall and thin, the Global Russian, very different from the short, dour New Soviet Man.

A billionaire 17 times over, he is called Russia's most eligible bachelor and is often seen in the company of some of the world's most beautiful women. He is quick-witted, charming and affable, someone who enjoys the spotlight, craves it in fact.  In a literary sense, he is more F. Scott Fitzgerald's Jay Gatsby than Boris Pasternak's Dr. Zhivago...more excess than asceticism...and although a Russian patriot, he wants to be seen as a man of the world.  He flies around the world in a $45 million Gulfstream V corporate jet and can't seem to keep track of his $45 million yacht.

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Federal tax returns filed by Develop, Don't Destroy Brooklyn, the leading opponent of Atlantic Yards, show total revenues for the group have been in steady decline since 2007.

Specifically, the returns, called Form 990's, show the group's revenues, mostly from fund raising, dropped from $366,163 in 2007 to $293,952 in 2008 and $161,834 last year...a decrease of more than 55% at a time when its legal efforts were peaking. In addition, the group's money on hand at year's end has dropped even more dramatically, from $138,054 in 2007 to $20,757 in 2008 before taking a slight uptick to $27,749 this year. During those three years, DDDB paid out more than $850,000 in total expenses, most of it--$644,070--in legal fees to the firms fighting eminent domain cases in federal and state courts.

In addition to legal fees, the group spend money mostly on fund-raising and events: t-shirts and buttons, signs and banners; as well as management services: computer software and services printing expenses, etc. Management compensation and fees totaled nearly $100,000 over the past three years. Although Daniel Goldstein, the face of DDDB, does not receive compensation, the tax returns show Shabnam Merchant, his wife, has received compensation. The two were married in 2007 after working together at DDDB, he as spokesman, she as director of fund-raising

The latest return was for the fiscal year ending June 30 of last year and filed with the IRS in November. It was not publicly available until this week on Guidestar, the website that gathers and publicizes information about nonprofit organizations. . No subsequent data will be available for another year when the group files its next tax returns.

Atlantic Yards Report, which chronicles opposition to the project reported Tuesday that in October, after the IRS reporting deadline, DDDB took in some $40,000 at its fifth "Walk Don't Destroy" walkathon. Also, it reported recent national publicity about the controversy "generated some new donors" but did not provide details. Goldstein told AYR's Norman Oder last night that DDDB has enough money to continue its remaining cases, "and we continue to raise money from the community." However, Oder added, "Within the year, however, DDDB will have to reassess whether and how it can continue".

Chad Ford and John Hollinger wrote recently in their Future Power Rankings, "The Nets rate first in future draft positioning — no team is better positioned to make a splash in the draft the next few years." After the Tracy McGrady trade, the Knicks have to be at the other end of the scale. The Knicks in effect mortgaged their future. If they can use the cap space they got in that trade to sign free agents, no one would care much about the picks. They'd be in the 20's. The Rockets on the other hand are gambling the Knicks won't be successful in signing free agents and so their picks would be much better.

Here's a breakdown of the two teams' picks the next three years.

2010
Nets — First round: their own pick and the Mavs’ unprotected pick, obtained in the Jason Kidd trade. Second round: The Nets’ own pick. (To acquire Chris Quinn, cash and a second round pick in 2012, the Nets had to return something to the Heat. So they agreed to "trade" their second round pick in 2010 to Miami. But the Nets protected it, 31-50, meaning the Heat would get the pick only if the Nets finish in the top 10 this season. That's now a mathematical impossibility, guaranteeing the Nets keep the pick). Currently, Nets have a guaranteed pick in the top four--including the best chance to get the overall #1, as well as the #23 and #31 picks. The Nets have a 25% chance to get the #1 pick and a 46.5% chance of getting the #1 or #2.
Knicks — First round: none, send to Suns in the Stephon Marbury trade in 2004; rights now held by the Jazz. Second round: Knicks will exercise the Nuggets' option to swap picks with the Clippers, part of the 2008 Renaldo Balkman trade. Currently, the Knicks have the #40 pick.

2011
Nets — First round: their own pick. Second round: their own pick and the Warriors’ unprotected pick, obtained in the restructuring of the Marcus Williams trade.
Knicks — First round: their own pick as long as it’s #1. Otherwise, the Rockets have the right to swap picks. Second round: none. The Knicks sent their pick and cash to the Lakers in the 2009 Toney Douglas trade.

2012
Nets — First round: their own pick and Warriors’ pick, protected 1-7, acquired in the restructuring of the Marcus Williams trade. (Should the Warriors’ pick be in the top seven in the 2012 Draft, the Nets would get the Warriors’ pick in 2013, also protected 1-7. If the Warriors again pick in the top 7 in 2013, the Nets would then get the Warriors’ pick in the 2014 draft, this time protected 1-6. In the unlikely event that the Warriors once again picked that high, the Nets would get the Warriors’ second round picks in 2014 and 2016 instead.) Second round: their own pick plus the unprotected Heat pick acquired in the Chris Quinn trade.
Knicks — First round: their own pick as long as it’s 1-5. If not, it goes to the Rockets. Second round: their own pick.

Mikhail Prokhorov became principal owner of the Nets on May 12, 2010. His interest in the Nets and Barclays Center is held by Onexim Sports and Entertainment Holdings USA, which is not part of Onexim, his $25 billion investment vehicle.  His team includes mostly Russians, but also a French banker and two Americans he relies on for legal and public relations advice.

His most important aides regarding Nets business are Sergey Kushchenko, his long-time sports adviser; Dmitry Razumov, a Russian lawyer and business executive; Christophe Charlier, the French banker at Onexim, and Irina Pavlova, a Russian businesswoman.

Kushchenko was director general (aka general manager) of CSKA Moscow for seven years.  In each of those seven years, CSKA made it to the Final Four.  It was Kushchenko who built CSKA using Prokhorov's money. He was named to the Nets board of directors in May 2011. Razumov and Charlier laid the groundwork for Prokhorov's acquisition more than a year ago along with Todd D. Schaefer, Prokhorov's American lawyer who moves between London, Moscow and New York.  Razumov and Charlier met with Rod Thorn and Brett Yormark in Dallas at the 2010 All-Star Break, signing off on the Newark deal, and then flying Thorn on Prokhorov's Gulfstream V to the Vancouver Olympics where he met with the new owner. The New York-based Pavlova entered the picture in mid-season, being named president of Onexim Sports and Entertainment Holdings USA, the US company that owns Prokhorov's interest in the team.  Kushchenko, Charlier, Pavlova and Schaefer are all members of the Nets board of directors, all nominated by Prokhorov. The three remaining members of the board are nominated by Bruce Ratner.

Finally, there's Ellen Pinchuk, a Moscow-based American public relations counsel who handles Prokhorov's press and image, working closely with the Nets own public relations staff. She's more than just a P.R. or image consultant, however. She advises Prokhorov on a wide variety of issues, including the Nets.

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Here are bio's of each them and others identified as players in the Nets' acquisition and operation of the franchise, people in their 30's and 40's who Nets fans will see a lot of in the coming years.

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