Brooklyn Nets up for sale

 
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angrypuppy
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PostPosted: Tue Jan 13, 2015 11:40 am    Post subject: Brooklyn Nets up for sale

http://www.bloomberg.com/news/2015-01-13/prokhorov-said-to-explore-sale-of-brooklyn-nets-basketball-team.html
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PostPosted: Tue Jan 13, 2015 11:45 am    Post subject:

$40B?
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Chronicle
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PostPosted: Tue Jan 13, 2015 11:50 am    Post subject:

He's not actually trying to sell, he's just saying that IF someone would offer him lots of $$, he'd think about it.

"Business is business"

Unlike the Hawks who are actually trying to sell and soon
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Aeneas Hunter
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PostPosted: Tue Jan 13, 2015 1:12 pm    Post subject:

Do it, Mitch.
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PostPosted: Tue Jan 13, 2015 2:47 pm    Post subject:

I dont know why news networks keep parroting the falling ruble thing, is it just a play on patriotic nonsense amongst its customers?

His business is commodities, falling local currency is good for that business (since your assets are valued in USD and your liabilities are valued in your local currency), it's the falling commodity prices that are hurting his business.
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wolfpaclaker
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PostPosted: Tue Jan 13, 2015 3:42 pm    Post subject:

Typical business move.
Buy in the old CBA.
See market values of franchises have soared in new CBA.
Sell before another CBA comes in and prices begin to steady or dip even.

He's a liar, because he promised the franchises fans a championship and a commitment to winning in 5 years. But it's typical business man move.
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LakersMDGurl
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PostPosted: Thu Jan 15, 2015 4:57 am    Post subject:

I don't get the Hawks though, the team has been amazing this season. Why cause a distraction by trying to sell the team right now?
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PostPosted: Thu Jan 15, 2015 9:27 am    Post subject:

LakersMDGurl wrote:
I don't get the Hawks though, the team has been amazing this season. Why cause a distraction by trying to sell the team right now?


They're the best team in the nba right now and still barely get 30 people to go to their games
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Fan0Bynum17
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PostPosted: Thu Jan 15, 2015 10:28 am    Post subject:

wolfpaclaker wrote:
Typical business move.
Buy in the old CBA.
See market values of franchises have soared in new CBA.
Sell before another CBA comes in and prices begin to steady or dip even.

He's a liar, because he promised the franchises fans a championship and a commitment to winning in 5 years. But it's typical business man move.


Why did he have to promise anything though?
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Lakers2001
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PostPosted: Thu Jan 15, 2015 11:18 am    Post subject:

Chronicle wrote:
LakersMDGurl wrote:
I don't get the Hawks though, the team has been amazing this season. Why cause a distraction by trying to sell the team right now?


They're the best team in the nba right now and still barely get 30 people to go to their games


I'm here in Atl and I can tell you the only reason pepole get Hawks tickets is to see the other teams star players. Remember the game earlier ... thier were more lakers fans then hawks.. actually I don't think their were any

I assume part of the reason is even if the Hawks make it to the finals they will get demolished by whomever comes out the west. Also they don't have a transcended star player that people care for. Actually they haven't since DW.
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GoldenThroat
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PostPosted: Thu Jan 15, 2015 11:22 am    Post subject:

Man oh man did that gigantic commie screw that franchise over. They're bad now, have crippling contracts, and don't own their own 1st round pick until 2019.

And he's gonna walk away with a huge ROI. God Bless America.
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yinoma2001
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PostPosted: Thu Jan 15, 2015 11:42 am    Post subject:

I have like $50 in my wallet right now. Is that a suitable offer?
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Lakers2001
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PostPosted: Thu Jan 15, 2015 11:49 am    Post subject:

Geeish... that Russian left that city and fans with a steaming pile of crap.


Though I do like the blk and white and logo.
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lakersken80
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PostPosted: Thu Jan 15, 2015 12:02 pm    Post subject:

If he was gonna take a dump on that franchise he should've just left it in Jersey....
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PostPosted: Thu Jan 15, 2015 12:05 pm    Post subject:

yinoma2001 wrote:
I have like $50 in my wallet right now. Is that a suitable offer?


Throw in a bag of popcorn and deal. But you have to supply your own nets.
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PostPosted: Thu Jan 15, 2015 12:17 pm    Post subject:

lakersken80 wrote:
If he was gonna take a dump on that franchise he should've just left it in Jersey....


He does own their arena. He could technically say screw you guys you can't play here anymore go back to Jersey
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lakersken80
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PostPosted: Thu Jan 15, 2015 12:29 pm    Post subject:

Chronicle wrote:
lakersken80 wrote:
If he was gonna take a dump on that franchise he should've just left it in Jersey....


He does own their arena. He could technically say screw you guys you can't play here anymore go back to Jersey


His share in the Arena is a minority share although a large one...45%.
Ratner is a majority owner in the Barclays center at 55%.
Either way the Russian will make bank even with the Nets in its depleted state. He got quite a bargain for the Nets when you look at the team's value around the league have skyrocketed since then.
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lakersken80
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PostPosted: Sat Jan 17, 2015 9:22 am    Post subject:

http://finance.yahoo.com/news/mikhail-prokhorov-going-killing-brooklyn-195200987.html
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angrypuppy
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PostPosted: Mon Jan 19, 2015 4:59 pm    Post subject:

This is the reason for the sale:

Quote:
Richest Russians Repatriate Assets After Putin Turns Tax Screw

President Vladimir Putin is pushing harder on Russia’s richest citizens to repatriate offshore assets amid a slump in the ruble and the imposition of sanctions by the U.S. and the European Union.

Under new tax rules signed into law by a presidential decree in November, Russian residents will from this year pay a tax of 13 percent on earnings reported by foreign companies and trusts they control. Should authorities prove those entities are managed from Russia and don’t have significant assets or employees abroad, the tax rate increases to 20 percent.


http://www.bloomberg.com/news/2015-01-19/richest-russians-repatriate-assets-after-putin-turns-tax-screw.html
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Aeneas Hunter
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PostPosted: Mon Jan 19, 2015 5:53 pm    Post subject:

Hmm. That's not good news for Chelsea FC.
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PostPosted: Mon Jan 19, 2015 6:20 pm    Post subject:

yinoma2001 wrote:
I have like $50 in my wallet right now. Is that a suitable offer?


1%er
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PostPosted: Mon Jan 19, 2015 10:37 pm    Post subject:

Lakers2001 wrote:
Chronicle wrote:
LakersMDGurl wrote:
I don't get the Hawks though, the team has been amazing this season. Why cause a distraction by trying to sell the team right now?


They're the best team in the nba right now and still barely get 30 people to go to their games


I'm here in Atl and I can tell you the only reason pepole get Hawks tickets is to see the other teams star players. Remember the game earlier ... thier were more lakers fans then hawks.. actually I don't think their were any

I assume part of the reason is even if the Hawks make it to the finals they will get demolished by whomever comes out the west. Also they don't have a transcended star player that people care for. Actually they haven't since DW.


They had an embarrassing attendance record for quite a number of years of DW's early career at that.
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PostPosted: Mon Jan 19, 2015 10:44 pm    Post subject:

OregonLakerGuy wrote:
yinoma2001 wrote:
I have like $50 in my wallet right now. Is that a suitable offer?


1%er


I have 37 bucks. What you got on you, Oregon? Maybe we can go in on this venture together. If you have more than 50, you get the controlling stake.
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OregonLakerGuy
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PostPosted: Mon Jan 19, 2015 11:39 pm    Post subject:

non-player zealot wrote:
OregonLakerGuy wrote:
yinoma2001 wrote:
I have like $50 in my wallet right now. Is that a suitable offer?


1%er


I have 37 bucks. What you got on you, Oregon? Maybe we can go in on this venture together. If you have more than 50, you get the controlling stake.


Funny enough I have $14. Our cooperative can outbid yinoma by $1.
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