When owner Mikhail Prokhorov purchased the then-New Jersey Nets back in 2010, the world of Nets news knew it was going to be turned upside down - however, no one could have predicted such an extreme upswing in value for the franchise itself over the past four years.
Here's Net Income of Nets Daily with the scoop on just how much the Brooklyn Nets are worth nowadays:
One number that we heard bandied about in New York basketball circles last night and this morning was $2.5 billion ... for the Nets only, not for Barclays Center, which is owned be the same people in different percentages and could fetch another billion. Others think the valuation could be higher, at $2.7 billion.
For Mikhail Prokhorov, that means roughly a 1,000 percent -- or 10 times -- return on his cash investment of $223 million in four years. He also assumed $160 million in debt service back then and agreed to eat $60 million to cover expenses in New Jersey. In return, he received 80 percent of the team and 45 percent of the arena. With a $2.5 billion valuation, Prokhorov's 80 percent of the team would be worth $2 billion and his 45 percent of the arena another $450 million. Not bad considering that a year ago, people questioned Irina Pavlova's estimate of between $700 to $800 million.
With news that the Los Angeles Clippers sold for around $2 billion to Microsoft CEO Steve Ballmer, it is very impressive to think just how much the Nets have grown as a commodity in the NBA in less than half of a decade.
Follow our Brooklyn Nets team page today for the latest Nets news!
Back to the Brooklyn Nets Newsfeed