Mikhail Prokhorov May Still Buy Nets If Brooklyn Falls Through

"Buy-For-Less Option" Remains For Prokhorov And Nets

Prospective Nets Owner Mikhail Prokhorov is "so geeked about the idea of owning an NBA team that he easily could renegotiate the price down if Brooklyn falls through and assume control of the Nets for less money," according to Marc Stein of ESPN.com. Prokhorov's deal to buy the Nets includes a "very crucial clause that enables him to walk away if the Nets' move to Brooklyn falls through." If the Nets "don't break ground" on Barclays Center by December 31, they "lose the tax-exempt bonds that are so crucial to the funding of the arena project." But the "buy-for-less option is out there for Prokhorov in that worst-case scenario" (ESPN.com, 11/14). A Nets investor said that "it is believed that Prokhorov 'might be inclined to still buy and keep it in Jersey' if the price could be worked out." Nets CEO Brett Yormark declined comment on the report, while others in the organization claim that the story "originated from the league, and not the team." In New Jersey, Dave D'Alessandro noted the report "contradicts what the team and the league have been saying" since Prokhorov agreed to buy majority control of the Nets in September. Both Nets Owner Bruce Ratner and NBA Commissioner David Stern have said that if Atlantic Yards "doesn't get under way, it's a deal-breaker, and that Prokhorov will take his billions and go home." However, that "might have changed in the months since those assertions" (NJ.com, 11/15).

YOU'VE GOT A FRIEND IN NEED: Yormark yesterday in a letter to fans said that they "need to show more support if they want the hapless team to get off a season-starting 0-10 slump." Yormark wrote, "We are asking you, our loyal fans, to rally around your team like never before. So bring your enthusiasm, show your support, and let's get our first win." The Nets are "giving away two extra tickets to every season ticket holder for tomorrow's game against the Indiana Pacers, hoping a more-crowded Izod Center will give the Nets a jolt" (N.Y. DAILY NEWS, 11/16).