This may be what Russian collusion looks like.
Brooklyn Nets owner Mikhail Prokhorov saw his stake in the team rise in value by 270 percent in just three years. His stake in 2015 appears to have been bought at an artificially low price.
Forest City Enterprises in 2015 attempted to sell its 20 percent stake in the Brooklyn Nets, and the team’s controlling owner Prokhorov did not make it easy for it to find an outside buyer.
He withheld financial information from prospective buyers, sources with direct knowledge of the deal said at the time.
Forest City needed to sell so it could pull off a complicated conversion to a tax-advantaged real estate investment trust, which would then help boost its share price.