Posts Tagged ‘Brooklyn Nets’


Having received little interest in minority shares, Russian owner Mikhail Prokhorov is now considering upping the ante and selling a majority stake in the Brooklyn Nets, according to The New York Post’s Josh Kosman and Brian Lewis.

After seeing the level of intrigue surrounding the Houston Rocets ever since their owner, Leslie Alexander, put the franchise up for sale, Prokhorov is reportedly hopeful there will be some parties who also give his Nets a look.

“As word gets out about the new Nets process, some of the Rockets interest may spill over,” an unnamed source said.

A group of Chinese investors has reportedly caught the eye of both teams. Houston still has an enormous fan base in that part of the world because of eight-time All-Star Yao Ming, while Brooklyn’s support is on the rise due to Jeremy Lin being on its current roster.

“Our brand in China is growing, in merchandise sales and commercially,” Nets CEO Brett Yormark told The Post.

With the Rockets reportedly looking for $2 billion in a sale, Prokhorov is seeking a similar valuation.

He initially bought an 80 percent stake in the Nets while they were situated in New Jersey, while also obtaining 45 percent in the Barclays Center. The team moved to Brooklyn in 2012, with Prokhorov eventually taking full control in 2015.


Is Beyonce getting into formation to buy a piece of the Houston Rockets?

The pop star is reportedly considering an investment in the team, sources told Bloomberg’s Scott Soshnick.

A native of Houston, Beyonce Knowles-Carter could offer community ties to whoever takes over as the Rockets’ controlling owner, now that longtime owner Leslie Alexander has decided to put the team up for sale.

Her husband, rapper Jay-Z, famously owned a small percentage of the Brooklyn Nets, playing a pivotal role in their relocation from New Jersey in 2012. He was forced to sell his stake in the team in 2013 in order for his upstart sports agency, Roc Nation Sports, to be allowed to represent NBA players, per league rules.

It’s unclear if his ownership of Roc Nation Sports could impact Beyonce’s ownership bid with the Rockets, but there’s a second ramification that stems from Jay-Z’s tenure as an owner: the colloquially named “Jay-Z rule.”

The league’s board of governors passed a rule several years ago mandating that each minority stakeholder in a team must own at least one percent, with no greater than 25 individuals in an ownership group altogether.

With team valuations skyrocketing since Steve Ballmer purchased the Los Angeles Clippers for $2 billion in 2014, that limits the potential for small-stake figurehead owners from owning a piece of a franchise.

Therefore, if Beyonce wants to be a minority owner of the Rockets, and Alexander angling for at least $2 billion for the team, the “Crazy in Love” singer would pony up at least $20 million for a one percent stake. Forbes valued Beyonce’s net worth at $350 million earlier this year, but even still, the economics of the league are very different from even four years ago.

There will be much to consider and red tape to navigate for Beyonce if she’s serious about joining the NBA family.


D’Angelo Russell was introduced to New York media Monday as a member of the Brooklyn Nets, and sounded like he’s ready for a fresh start after two tumultuous seasons with the Los Angeles Lakers.

“I’m just excited to be here,” Russell said, according to the New York Times’ Malika Andrews, before acknowledging Lakers team president Magic Johnson’s thinly-veiled shot at him on the way out of L.A.

“It’s the past, so it’s irrelevant, honestly.”

Following last week’s trade of Russell and Timofey Mozgov for Brook Lopez, Johnson told reporters that he needed “a leader” and someone “that players want to play with.”

Russell, 21, is unquestionably a major talent. Yet he hasn’t helped himself in terms of team chemistry with stunts like secretly videotaping former teammate Nick Young. He said Monday his focus is simply to get out and play.

“Me proving anybody wrong is not my focus,” Russell said, according to Basketball Insiders’ Michael Scotto. “That’s another thing that’s not really relevant to me … I’m excited. Like I said, once I heard the trade happened I was surprised. I didn’t look at it as a negative, I looked at it as a celebration and I can’t wait to get in the gym with these guys and just learn from them.”


Everything’s coming up roses in Beantown, as the Boston Celtics are not only four victories away from advancing to the NBA Finals, but are now also in possession of the No. 1 pick in the 2017 draft.

Celtics co-owner Wyc Grousbeck was smiling ear to ear on Tuesday as the team’s representative at the festivities.

“We got a lot offers in February (before the trade deadline) and I’m glad we didn’t trade the pick,” Grousbeck said, according to the Boston Globe’s Rachel Bowers. “You can write that.”

Boston was in possession of the Brooklyn Nets’ pick as a result of a swap stemming from the 2013 trade that sent Kevin Garnett and Paul Pierce to Brooklyn.

The pick that’s now going first overall was a huge bargaining chip ahead of the deadline, with the Celtics being linked to the likes of All-Stars Jimmy Butler and Paul George, although nothing came to fruition.

Barring a trade this summer, Grousbeck and the Celtics organization have a plethora of options of who they could potentially take, including UCLA’s Lonzo Ball, Washington’s Markelle Fultz, and Kansas’ Josh Jackson.

“We’ve got plenty of time to decide what to do, but I would imagine we would probably make the pick,” Grousbeck added, according to ESPN’s Chris Forsberg. “In today’s NBA, picks are very valuable. You have a young person that you can really help mold and grow with. Bring him in before the max salaries kick in. It makes a lot of sense to keep these picks.”

The Celtics secured the No. 1 overall seed during the regular season with a 52-29 record. They open the Eastern Conference finals on Wednesday at TD Garden against the visiting Cleveland Cavaliers.


The New York Islanders are apparently being evicted from their Brooklyn home.

Barclays Center officials have decided that it’s no longer in their best interest to house the NHL franchise, Bloomberg’s Scott Soshnick reported Monday, citing people familiar with the facility’s finances.

It’s believed they have decided that the arena can generate more money staging concerts and other events in addition to Brooklyn Nets basketball.

Barclays Center pays the Islanders an average of $53.5 million annually for control of business operations, according to Soshnick.

The Islanders are in their second season in the Brooklyn barn, and since their arrival, there have been complaints from players and fans about ice quality and obstructed views.

The club has the NHL’s third-worst average attendance behind the Arizona Coyotes and Carolina Hurricanes, with 81.1 percent of their seats sold, according to ESPN. In their final season at Nassau Coliseum in Uniondale, the Islanders had almost 95 percent attendance.

Soshnick notes that either side can cancel the current deal. If the Barclays Center chooses that route, the Islanders would need a new home after the 2018-19 season.

The Islanders have not commented on the report, according to Arthur Staple of Newsday.

NHL commissioner Gary Bettman said this about the Islanders’ future at Barclays Center at NHL All-Star weekend in Los Angeles, according to ESPN’s Craig Custance:

Well, the owners are committed to the franchise. They’re committed to New York and the great fan base that has followed the Islanders. There are some issues about playing in Barclays. It may be fundamental to the system, and that’s not something that can be fixed in the short terms. I think as is prudent, Scott Malkin and Jon Ledecky are reviewing the situation and looking very seriously at what their options are.


The NBA’s second-ranked offense went up against the league’s fourth-worst defense on Friday night, and the result was a predictable scoring barrage from the Toronto Raptors.

Perhaps less predictable was the extent to which the Raptors would run up the count on the porous Brooklyn Nets. In part because the Nets proved a pesky opponent and played to a virtual deadlock for three quarters, the Raptors kept their foot on the gas until finally blowing the game open in the fourth. The result: Toronto racked up 132 points in the 19-point win, a franchise record for a non-overtime game.

While the Nets bombed away from deep and hit an impressive 17 threes, the Raptors did the bulk of their damage from inside, scoring 56 points in the paint. They shot 53.6 percent from the field, 39.3 percent from 3-point range, and 17-of-21 from the line, while grabbing 13 offensive rebounds and turning the ball over just eight times. Throw in a rapid pace of play, and you’ve got yourself a historic scoring total, including 78 second-half points.

The Raptors put seven players in double-figures, led by DeMar DeRozan‘s 28 and bolstered by Kyle Lowry‘s 20, with Cory Joseph chipping in 16 on 7-of-7 shooting off the bench.


Jason Kidd’s voice carries a bit more weight than the run-of-the-mill head coach – at least if you know his resume.

In an illuminating profile with Lee Jenkins of Sports Illustrated, Milwaukee Bucks superstar Giannis Antetokounmpo recounted how looking up Kidd’s career accomplishments changed his mind after early doubts about his coach.

As Jenkins wrote:

The first time Kidd benched him, Antetokounmpo was irate. “I was like, ‘Let’s see what this guy did in his career, anyway,'” Antetokounmpo recounts, and called up Kidd’s bio on his phone. “I saw Rookie of the Year, NBA championship, USA Olympic gold medal, second in assists, fifth in made threes, blah, blah, blah. I was like, ‘Jesus freaking Christ, how can I compete with that? I better zip it.'”

For the record, Kidd’s resume reads as follows: 10 All-Star nods, Rookie of the Year honors (shared with Grant Hill) in 1995, nine All-Defense nominations, six All-NBA selections, two Olympic goal medals, and one championship, after which his No. 5 was retired by the New Jersey/Brooklyn Nets.

If that doesn’t command respect, nothing will.