It looked like Mikhail Prokhorov was getting a great deal when news broke he was getting 80% of the team and 45% of Barclays Center for a mere $200 million. But the fine print shows that Russian billionaire has also agreed to eat all losses (up to $60 million) before the Brooklyn move plus 80% of the team's current debt--amounting to another $165 million. Also, Forest City released details on the Nets' current finances.
- Russian’s Stake Gives Ratner a Safety Net - Ken Belson & Richard Sandomir - New York Times
- FCE issues 10-K Amendment: ticket sales way down - Norman Oder - Atlantic Yards Report