Sources: Mikhail Prokhorov Set To Become Sole Owner Of Nets, Barclays Center

Nets Owner Mikhail Prokhorov and Bruce Ratner's Forest City Enterprises have "reached an agreement that will give the Russian billionaire sole ownership" of the Nets and Barclays Center, according to sources cited by Soshnick & Novy-Williams of BLOOMBERG NEWS. The NBA is "reviewing the deal." Prokhorov via Onexim Sports & Entertainment currently owns 80% of the team and 45% of the arena. Gaining control of the arena -- and full ownership of the team -- would "make it easier for Prokhorov to sell all or part of either asset, including minority partnerships in the team, arena or both" (BLOOMBERG NEWS, 12/2). The N.Y. DAILY NEWS notes league sources are "skeptical about Prokhorov's desire to keep all these assets." There have been "rumors of Prokhorov being in financial problems because of the plummeting Ruble," and he cut the Nets' salary "drastically over the last two years to avoid luxury tax penalties" (N.Y. DAILY NEWS, 12/3).