Russian Billionaire close to full control of Barclays Center
Russian billionaire Mikhail Prokhorov is on the verge of taking full ownership of National Basketball Association (NBA) franchise the Brooklyn Nets and its Barclays Center home.
According to Bloomberg, the entrepreneur has reached an agreement with Bruce Ratner’s Forest City Enterprises to take a 100 per cent stake in the team and arena.
Prokhorov currently owns 80 per cent of the Nets and 45 per cent of the 18,000-capacity facility through his Onexim Sports & Entertainment company. Forest City owns the remaining stakes.
The report referenced a value of US$2bn (£1.3bn, €1.8bn) for both the Nets and the Barclays Center, made by valuation expert Peter Schwartz earlier this year.
The Eastern Conference team shares the facility with National Hockey League (NHL) franchise the New York Islanders.
The AECOM-designed arena opened in September 2012 as an NBA venue, while hockey came to the centre in September 2015. It has also hosted a number of concerts and the 2013 MTV Video Music Awards.
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