Sources: Prokhorov Retains Evercore Partners To Help Sell Nets

Two sources indicated Mikhail Prokhorov has retained Evercore Partners to sell the Nets. Prokhorov holds 80% of the team and 45% of Barclays Center, but the sources said that "only the team is for sale." This comes after Bruce Ratner, a limited partner in the Nets and majority stakeholder in the arena, previously hired Evercore to "explore a sale" of his 20% stake in the club. Prokhorov in '10 paid about $220M for his share of the Nets (BLOOMBERG NEWS, 1/13).

However, one source "high up the Nets chain of command" said that the "story was misleading and that Prokhorov is not looking to unburden himself of the club." The source said that Prokhorov is "simply listening to offers about selling shares of the team but not his entire controlling interest" (NYDAILYNEWS.com, 1/13).