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Silver Reportedly Holding Up Prokhorov's Nets/Barclays Center Deal Due To Debt Ceiling

NBA Commissioner Adam Silver has "held up" Nets Owner Mikhail Prokhorov's effort to buy complete ownership of the team and Barclays Center "as structured because it would push the team over" the league's $250M debt cap, according to sources cited by Kosman & Bontemps of the N.Y. POST. Prokhorov since September has been "seeking to buy" full control of the team and arena from real estate developer Forest City Enterprises. A source said that to finance his purchase, Prokhorov "wanted to borrow more money against the team, whose debt load is already bumping up against the league's limit." The source added that the parties are "trying to rework the deal" and Prokhorov may "kick in more money." Last year, the NBA "raised the maximum the teams could borrow" by 40% to $250M, "arguing the league's new TV rights deal allowed for more leverage" (N.Y. POST, 11/5).

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