Forest City Enterprises, Bruce Ratner's parent company, announced Monday that it had closed on the sale of its and associated investors' stakes in the Nets and Barclays Center. The Russian oligarch now controls 100 percent of the team and arena, as well as 85 percent of Nassau Coliseum, also purchased from Ratner.
The details, as released by FCE, indicate that Prokhorov once again walked away a financial winner, even if his prized possession is a loser.
According to the FCE press release and various reports, Prokhorov laid out only $70 million in cash --and another $210 million in low interest notes-- to gain control of the two assets, valued at $1.