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July 28, 2010
Prokhorov: Nets Will Be Worth $1 Billion by 2015
NetsDaily
Looks like Mikhail Prokhorov is playing fantasy basketball.
The cover of August's Forbes Russia shows a tall man in a suit holding a basketball, and asks, "Mikhail Prokhorov and American basketball: Who Will Be the Winner?"
In the article, "I told America I come in peace," Prokhorov goes over much the same ground he has in press conferences and interviews with U.S. media, but talks more about the team's financial prospects.
The Nets' owner says the team will continue to lose money in Newark but the team's move to Brooklyn, plus his ambitions to create a dynasty, will make the Nets both profitable and valuable, suggesting the team will be worth $1 billion and earn an annual profit of $20 million.
NoLandGrab: To put that figure in perspective, Forbes estimates the value of the Los Angeles Lakers, who won 45 more games than the Nets this past season (and the NBA title), at $607 million. Prokhorov is "guaranteeing" a Nets championship by 2015, as well.
Posted by eric at July 28, 2010 10:26 AM