Brooklyn Nets owner Mikhail Prokhorov is interested in selling the squad for $2 billion, preferably to a Chinese buyer. According to Josh Kosman of the New York Post, Prokhorov has been shopping the team around to prospective buyers who have expressed interest in acquiring the Nets. Kosman said Mike Zavodsky, the Nets executive vice president of global partnerships, had 20 meetings in China last month for a potential sale. The Post also reported that Alibaba executive vice chairman Joe Tsai is interested in purchasing the team but his representatives have denied it.
The Nets are trying to get a share of the Houston Rockets’ popularity in China, which is a huge basketball market as the most populated country in the world. Recently, Forbes Magazine put the Nets’ value at $1.8 billion, which is close to the $2 billion that Prokhorov wants for his squad. The Nets currently have no big name players aside from D’Angelo Russell, whom they acquired from the Los Angeles Lakers via trade. However, the Nets location and their arena could also attract buyers. The Nets also have Jeremy Lin, Allen Crabbe, DeMarre Carroll and Jarrett Allen.
Rockets also up for sale
The Nets were the second NBA franchise to be put up on sale, after the Rockets, who is estimated to be worth around $2 billion.
The Rockets are a hot commodity now because of the presence of James Harden and Chris Paul, whom they recently acquired from the Los Angeles Clippers. The Rockets are also popular in China, thanks to retired NBA center Yao Ming, who made the franchise a household name in that country. Last month, Rockets team owner Leslie Alexander announced his intention to sell the franchise he acquired in 1993 for $85 million.
A year later, the Rockets won back to back championships behind Hall of Fame center Hakeem Olajuwon.
Alexander tapped Rockets chief executive Tad Brown to oversee the process of selling the team. Brown, for his part, said they will take their time, saying they want to find the right buyer for the Rockets, who emerged as one of the contenders in the Western Conference with the leadership of James Harden.
The Rockets reached the Western Conference Semifinal last season and they are expected to go deeper with the addition of Paul.
Olajuwon, Beyonce interested in buying Rockets
According to Mark Woods of ESPN, Olajuwon has been approached by several groups interested in acquiring the Rockets. Olajuwon said he’s currently in the process of checking the backgrounds of these groups before making the next move. Singer Beyonce is also interested in becoming a part of an ownership group that will bid for the Rockets. Beyonce’s husband, Jay-Z, had a stake with the Nets but he sold it after establishing his own sports agency that represents professional players.
