When Mikhail Prokhorov purchased 80 percent of the Nets and 45 percent of Barclays Center for $200 million back in 2010, he couldn’t in his wildest dreams have imagined his newly acquired asset would appreciate in value so quickly.
That’s what a new television deal, a nine-year, $24 billion one the NBA signed which kicks in next season, can do for the worth of organizations. Now, according to Forbes’ latest franchise value estimations, the average NBA team is worth $1.25 billion. The Nets, to no surprise, are sitting above that.
Brooklyn is worth $1.7 billion, according to Forbes, making the Nets the NBA’s seventh most valuable franchise, trailing the inner-city rival Knicks, who Forbes valued at $3 billion, the highest figure in the league. Following the Knicks were the Lakers ($2.7 billion), Bulls ($2.3 billion), Celtics ($2.1 billion), Clippers ($2 billion) and Warriors ($1.9 billion), respectively.
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Prokhorov bought out the minority owners last season to become 100 percent owner of the Nets, so he ended up paying more than the $200 million he originally invested in the team six years ago. Still, from a purely monetary standpoint, he can’t be all too upset with the way Brooklyn has treated him, though only he knows how the losing will wear on him over time.