Mikhail Prokhorov has been looking to sell a minority stake in the Brooklyn Nets -- 49 percent -- but talks have slowed because he is looking for $1.5 billion, putting the overall team value at $3 billion.
Nets sale stalls because Mikhail Prokhorov reportedly values team at $3 billion
The Nets’ owner reportedly wants to sell half his stake for $1.5 billion, which puts the Nets’ value at $1 billion higher than the Clippers.
Anthony Gruppuso-USA TODAY Sports
Prokhorov's estimation includes both the team and the Barclays Center, according to Forbes, but the price is hefty either way. Steve Ballmer bought the Los Angeles Clippers for $2 billion last year, but that team was very profitable, while the Nets are losing money.
Selling a 49 percent stake means Prokhorov would retain majority control of the organization. He currently owns 80 percent, while minority owner Bruce Ratner controls the other 20 percent.
The Nets are not the only team up for sale, as the Atlanta Hawks continue to look for a new ownership group. The Clippers' $2 billion sale appears to be an outlier so far, per Forbes, since the highest offer for the Hawks is reportedly $800,000 or $900,000.
Prokhorov spent about $300,000 to purchase the team in 2010.
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