According to a filing with the Securities and Exchange Commission, Bruce Ratner's parent company has only a week to pay Mikhail Prokhorov more than $25 million in debt --and $6.3 million to cover current team losses-- or see its share of the Nets cut dramatically. It's also believed the two sides are talking about larger issues concerning ownership of both the team and Barclays Center.
Norman Oder, critic and chronicler of the overall Atlantic Yards/Pacific Park project, reports that Nets Sports & Entertainment, the Ratner investment vehicle, owes that money because it has not funded Nets losses since the team's initial season in Brooklyn.