So three weeks ago, the Post's Josh Kosman and Claire Atkinson wrote that the Nets ownership only wants to sell a minority piece --49 percent-- of the Nets for the astronomical price of $1.5 billion, putting the value of the team at $3 billion, 50 percent higher than what Steve Ballmer paid for the Clippers last year.
Now, Mike Ozanian of Forbes reports that the $3 billion price valuation was for the Nets ... and Barclays Center. That would seem to make things more palatable for potential buyers, but Ozanian thinks it's still a big chunk to swallow and so things are "stalled."
"That seems rather ambitious when you consider that at Prokhorov’s price, the buyer would be paying $1 billion more than what Steve Ballmer paid for the Los Angeles Clippers," wrote Ozanian Thursday. "The Clippers are very profitable team, while the Nets lost the most money in the league during the 2013-14 season."
He pointed out that a minority owner wouldn't have control, but would have to pay part of the team's losses.
On Friday, he added to his analysis suggesting the price Ballmer paid is an "outlier," outside the norms for sports franchises. He notes as well that the best bid for the Hawks is $800 million, about $200 million less than what some thought it would be worth. (Others have reported a $900 million bid.)
Still, sources tell NetsDaily, the team has had a number of suitors lately from both the US and overseas. But in each case, the prospective bidders want total control and thus far, Prokhorov hasn't been willing to give it all up.
- Sale Of Brooklyn Nets Stalled Because Prokhorov Wants $3 Billion - Mike Ozanian - Forbes
- The Ballmer Bubble Bursts - Mike Ozanian - Forbes
- Forbes: Prokhorov's sale demands unchanged, sale "stalled" - Devin Kharpertian - The Brooklyn Game