Brooklyn Nets Owner Mikhail Prokhorov has put the team up for sale, yes this is old news but no stories have emerged since the Russian billionaire put the team up for sale.
Why is this? NBA teams are usually a hot commodity. When the Los Angeles Clippers were put up for sale, celebrities and billionaires galore were rumored to be interested. From Magic Johnson to Oprah Winfrey the interest was there.
With the Nets, this interest is not there. The only major rumor that has emerged was the late Steve Job’s wife Laurene Powell Jobs was interested in the team, but that rumor lost traction fast.
The Nets are notorious for their dark future, trading away most of their draft picks for Kevin Garnett, Paul Pierce and Jason Terry, two of which are not even with the team one year later, and Garnett who still plays with fierce competitiveness, but is far from a superstar.
Brooklyn is full of washed up has-beens or injury prone should-have-beens and that is why people are staying away. However potential buyers are not thinking this decision through.
The Nets made the move to Brooklyn just two and a half years ago. With sleek black and white uniforms that make the team marketable to international audiences along with a new, state of the art Barclays Center that is among the best arenas in the league, the Nets are an investment.
Jay Z’s affiliation with the Nets also does not hurt the team’s marketability. The rapper did sell his stake in the Nets due to the conflict of interest that was involved after starting his own agency, Roc Nation Sports. However Jay Z immediately put that money back into the Barclays Center.
The Nets are still friendly with Jay Z even tweeting out some of his lyrics.
Jay Z still is seen sitting court side at a lot of games at the Barclays Center alongside Beyonce. However, news has emerged that the rap mogul is moving away from New York to Los Angeles with his wife Beyonce and his daughter Blue Ivy.
This affiliation cannot hurt the team’s brand awareness.
Will the Nets be contending for championships in the next few years? No. However the Nets’ salary books open up after the 2016 season. They have the chance to sign marquee free agents such as Damian Lillard, Michael Carter-Williams, Kevin Durant, DeMar DeRozan and others in a stacked free agent class. After 2019 the team has all of their draft picks back, providing General Manager Billy King doesn’t decide to trade them away.
That brings me to another point. If a new owners comes in, Billy King will likely lose his job, and for good reason. King has crippled the franchise to the point where they are a fringe playoff contender, not the championship contender that Prokhorov envisioned when he bought the then New Jersey Nets in September 2009.
The Brooklyn Nets future does leave a lot to be desired, but what they have right now is still quite a package.
If Billy King is removed for a new, smart General Manager and the Nets sign young player to financially smart deals, their future can turn around much faster than one would think.
A solid piece is already in place in Mason Plumlee, who will be suiting up for the Rising Stars game for the second year in a row, and hopefully an All-Star game in the near future.
Whoever the Nets’ new owner ends up being, if he/she is in it for the long-haul, the Brooklyn Nets are in good shape. It follows the simple investment model of buy low, sell high.
The Nets of 2025 will be worth significantly more than the Nets of 2015 and if someone is willing to commit to the franchise, the Nets are a real moneymaking opportunity.
The current state of the team is poor, but the chance to make the team globally marketable is there. There are both drawbacks and benefits to purchasing the Brooklyn Nets, but the potential to make money off the team is there.