Menu
Franchises

Handful Of Suitors Reportedly Chasing Nets, Including Groups From China And Qatar

A handful of potential suitors in the U.S. and abroad "are interested in making a play" for the Nets as the auction for Mikhail Prokhorov's franchise "gears up," according to Kosman & Atkinson of the N.Y. POST. Chinese conglomerate Fosun and the Qatari government’s investment fund "have signaled an interest in buying" the team. Interest "is also coming from music mogul David Geffen," who considered a bid for the Clippers last year before the team was sold for a record $2B to Steve Ballmer. Sources said that former Time Warner Chair & CEO Dick Parsons, who was Clippers interim CEO when the NBA forced then-owner Donald Sterling to sell the team, "has eyed the Nets." Still, sources added that Parsons "doesn’t have the cash and would need to line up investors." A source said that the NBA "hasn’t given Prokhorov clarity on whether he can sell" his 80% stake in the team separately from his 45% stake in Barclays Center. SportsBusiness Journal last month reported that the NBA "told Prokhorov he had to sell both." But the source said that the league "hasn’t made a decision." Some believe that NBA Commissioner Adam Silver’s "goal" is delaying the Nets sale. The Hawks "also are for sale, with bids said to be around" $900M, and the NBA "may not want prospective buyers to be split between the teams." Sources said that Fosun "is also in the bidding for the Hawks" (N.Y. POST, 3/2).

SBJ Morning Buzzcast: March 18, 2024

Sports Business Awards nominees unveiled; NWSL's historic opening weekend and takeaways from CFP deal

ESPN’s Jay Bilas, BTN’s Meghan McKeown, and a deep dive into AppleTV+’s The Dynasty

On this week’s Sports Media Podcast from the New York Post and Sports Business Journal, ESPN’s Jay Bilas talks all things NCAA. Big Ten Network’s Meghan McKeown shares her insight into the Caitlin Clark craze. The Boston Globe’s Chad Finn chats all things Bean Town. And SBJ’s Xavier Hunter drops in to share his findings on how the NWSL is making a social media push.

Learn more about your ad choices. Visit megaphone.fm/adchoices

SBJ I Factor: Nana-Yaw Asamoah

SBJ I Factor features an interview with AMB Sports and Entertainment Chief Commercial Office Nana-Yaw Asamoah. Asamoah, who moved over to AMBSE last year after 14 years at the NFL, talks with SBJ’s Ben Fischer about how his role model parents and older sisters pushed him to shrive, how the power of lifelong learning fuels successful people, and why AMBSE was an opportunity he could not pass up. Asamoah is 2021 SBJ Forty Under 40 honoree. SBJ I Factor is a monthly podcast offering interviews with sports executives who have been recipients of one of the magazine’s awards.

Shareable URL copied to clipboard!

https://www.sportsbusinessjournal.com/Daily/Issues/2015/03/02/Franchises/Nets.aspx

Sorry, something went wrong with the copy but here is the link for you.

https://www.sportsbusinessjournal.com/Daily/Issues/2015/03/02/Franchises/Nets.aspx

CLOSE