Nets Sports and Entertainment and Forest City Enterprises, Inc. announced today that it had executed a purchase and sale agreement with Mikhail Prokhorov's Onexim Sports. Onexim purchased the Nets at a total of 875 million and the Barclays Center at a total of 825 million. Debts from both FCE and NS&E will be assumed by Onexim as Onexim takes over a 100 percent stake of both the team and the stadium.
The transaction is not yet finalized and will not be completed until later this year or early in 2016. NS&E will only receive 285 million in cash up front with the rest of it in notes paid at a 4.