Bruce Ratner the former Nets majority owner who still has a piece of the team is still trying to unload his 55 percent share of the arena, reports the Sports Business Journal.
“The venue ranks as the most popular arena in the country, based on ticket sales for concerts in the first six months of the year, according to Pollstar. And beginning next year, in addition to the Brooklyn Nets, it will be home to the NHL’s New York Islanders…. The arena has more than $30 million in annual cash flow, investment banking sources said, adding that such an amount would translate to a top valuation of $750 million for the arena.”
It is possible Nets owner Mikhail Prokhorov, who already owns 45 percent of the arena, could buy up the rest. However, as he was looking to shed part of the team and arena in a potential sale, it doesn’t seem he wants to take it on.
Whoever Decides to take on the Majority Stake it wont be a bad investment considering NBA franchises stock are rising.
