Nets owner Mikhail Prokhorov said Wednesday that he has hired Allen & Co. to sell a minority stake in the team.
“My goal in seeking a local minority partner is to further strengthen the team’s New York presence in order to expand upon our business and community relationships,” the 51-year-old Russian billionaire said. “I’m proud of the steps we’ve taken this year, including the opening of the world-class HSS Training Center and developing a new culture with GM Sean Marks and Head Coach Kenny Atkinson. I’m committed to the Nets and will remain the majority owner of the team.”
A buyer of a minority stake in the NBA team, which Forbes said is worth $875 million, would also get slices of the D-League Long Island Nets and the HSS Training Center’s lease in Industry City — but not Barclays Center, Nassau Coliseum or the Brooklyn Paramount Theatre.