Brooklyn Nets Owner Mikhail Prokhorov Selling 49 Percent Stake in Team
Apr 8, 2015; Brooklyn, NY, USA; Brooklyn Nets owner Mikhail Prokhorov addresses media during a press conference before the Brooklyn Nets play the Atlanta Hawks at Barclays Center. Mandatory Credit: Noah K. Murray-USA TODAY Sports

Brooklyn Nets owner Mikhail Prokhorov announced to the Russian media that he is selling a minority stake in the team.

Mikhail Prokhorov told Russian media he’s selling a 49 percent stake in the Brooklyn Nets.

The 51-year-old owner announced his intentions to sell a minority stake back in December.


The Russian billionaire announced his intention to sell a minority stake in December, and now says “49 percent of the Brooklyn shares are up for sale,” in comments reported by R-Sport.

He adds that “currently the process is going on and we are looking for a buyer.”

Prokhorov has taken the Nets on a wild ride since seizing control back in 2010. He moved the team to Brooklyn in 2012 and took full ownership in 2015. Still, the lack of team success is something that stings him.

The Nets have a record of 218-340 (.390) during Prokhorov’s tenure and they’ve won only one playoff series. He’ll always be remembered as the guy who pushed for the Paul Pierce and Kevin Garnett trade.

Some reports suggested Prokhorov might just cut bait and sell the team. So far the minority shares seem to be the only thing up for grabs.

I'm ESNY's Executive Editor for I cover the New York Knicks and Brooklyn Nets. Email: Chip Murphy covers the NBA for Elite Sports NY. You can find him on Twitter @ChipperMurphy.