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Last Arena Bonds Up for Sale

The Nets arena holding company is offering $106 million in bonds at 11% interest to fill the final gap needed to finance Barclays Center. Initially, it was reported Mikhail Prokhorov would buy the bonds. Now it seems he wants to see if there's a market for them elsewhere. If not, he's expected to purchase them. Since Prokhorov will own 45% of the arena, he would, in effect, be paying interest to himself.