In the spring of 2010, Mikhail Prokorhov became the first non-North American team owner in NBA history. That accomplishment within itself is simply amazing, but that’s a possibility when you’re a billion dollar man.
Money truly does talk.
However, at the time, Prokorhov agreed to an 80 percent stake of the team with an 45 percent interest in the Barclays Center. According to bloomberg, Prokorhov has reached a new deal to have complete ownership of the Nets and the Barclays Center.
Is this good for the franchise?
During Prokorhov’s first couple of seasons, the Nets were still in New Jersey and they were one of the worst teams in the association both seasons, not winning anymore than 24 games in either season.
The franchises fortunes began to change when they made the move to Brooklyn, but it came with a hefty price.
Instead of electing to gather young talent and build without breaking the bank, Prokorhov decided to go all in.
Veterans like Deron Williams, Joe Johnson, Paul Pierce and Kevin Garnett teamed up, which looked like a super team on paper. They reached the playoffs the next two seasons, but they weren’t able to get past the conference semis.
The only way Prokorhov’s basketball moves would’ve been justified is if the Nets won a NBA championship, which is what he envisioned happening five years ago.
Brooklyn currently sits at 5-13 and oh yeah, the Nets don’t have a first round pick until 2017. Yes, 2017!
So, unless the Nets hit in free agency next summer, there won’t be too much to look forward to in the Barclays Center other than concerts, boxing and etc. Now, this is an area where Prokorhov excels.
Global figures such as Jay-Z, Justin Bieber and Drake have all performed inside the Barclays Center. In addition to those events, this state of the art arena has the New York Islanders calling it home.
Also, the first and second round of the NCAA tournament will have matchups in Brooklyn this upcoming spring.
At the end of the day, Prokorhov is generating massive revenue to the Barclays Center, but it necessarily isn’t coming from Nets home games.
Prokorhov is good for business, bad for basketball.