Brooklyn Boro

Report: NBA approves transfer of Ratner’s shares in Nets, Barclays Center to Prokhorov

Combined assets valued at $1.9 billion, per Bloomberg News

December 16, 2015 Brooklyn Daily Eagle
Mikhail Prokhorov now owns 100 percent of the Nets and Barclays Center. AP photo
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The NBA has approved the transfer of Bruce Ratner’s ownership stakes in the Brooklyn Nets and Barclays Center to Russian billionaire Mikhail Prokhorov, Bloomberg News’ Scott Soshnick reported on Twitter. The valuation of both assets is valued at roughly $1.9 billion, according to the report.

Earlier in the month, Ratner’s Forest City Enterprises Inc. had reached an agreement with Prokhorov’s Onexim Sports & Entertainment that gave the Russian sole ownership of the arena and the team, pending NBA approval. Forest City Ratner previously owned 55 percent of the Barclays Center and 20 percent of the basketball team. Bloomberg reported earlier that the deal would make it easier for Prokhorov to sell minority stakes in the team and arena — or sell them outright.

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Lore Croghan contributed to the reporting.

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