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Prokhorov Purchase of Nets May Have Been NBA's Biggest Bargain

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NEW YORK - MAY 19:  New Jersey Nets Owner Mikhail Prokhorov addresses the media during a press conference at the Four Seasons Hotel on May 19, 2010 in New York City.  (Photo by Mike Stobe/Getty Images)
NEW YORK - MAY 19: New Jersey Nets Owner Mikhail Prokhorov addresses the media during a press conference at the Four Seasons Hotel on May 19, 2010 in New York City. (Photo by Mike Stobe/Getty Images)
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In an article on the NBA's new owners, Jonathan Abrams singles out Mikhail Prokhorov's purchase of the Nets as the big bargain in recent team sales.

"Mikhail Prokhorov paid $100 million less for the Nets than the $300 million Bruce Ratner paid in 2004, and received a majority stake of the franchise and 45 percent of the years-awaited Barclays Center in Brooklyn," writes Abrams. Michael Jordan, who bought the lowly Bobcats, paid $25 million less than Bob Johnson paid to enter the NBA. The Hornets, bought by the NBA; Hawks and 76ers also sold at a discount...and without much cash outlay, Abrams notes.

Abrams writes that while Prokhorov and the other new owners may not have that much to say in the CBA negotiations --the owners work on a seniority system, he quotes David Stern as saying as a bloc, "they are of the view that a better financial profile for our teams is something to be desired in these collective bargaining negotiations."