Quote:
Originally Posted by Underdog
I knew that was going to happen eventually, but I didn't think the fall would be so far so fast with such a high pricetag... Prokhorov is one of the richest people on the planet, but nobody is rich enough to simply ignore flushing $144m down the toilet in one year on one investment.
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Screw Billy King. Ivan needs to get over here and run this thing his own self. (Rod Thorn smelled something rotten, I think.) I suspect that Russian ownership of the Nets is an extreme example of Russians stashing assets abroad, much like Russian millionaries/billionaires buying high-end Manhattan real estate.
I forget what he paid to acquire the Nets ($300-350 million, with current valuation of $780 million), but if the Bucks can go for nearly $600 million, and the Clips can go for $2 billion, he should come out okay if he's looking to sell in a few years. But yeah, still...$144MM for a 2nd-round exit is pretty heady.