When Mikhail Prokhorov bought the vast majority of the then New Jersey Nets (80 percent) in May 2010, I thought the organization had finally found the in-it-for-the-long-haul owner(s) it had been searching for since the famed Secaucus Seven of the late 20th-century.
And there’s a reason why I’m writing here and not for ESPN, at least right now.
Just over four years after purchasing the team, Prokhorov has officially put it up for sale, months after previous rumors expected him to. After the initial shock factor of such a notable owner quickly selling the team he said would win a championship within five years of his arrival, the move makes sense for the billionaire.
The Russian economy isn’t doing well, the Nets haven’t been profitable in recent years and sports franchise valuations are going through the roof with each respective sale. Even though he would going against what he so prominently declared back when he bought the team, why would a smart businessman like Prokhorov turn down over $1.5 billion (expected) in easy profit? Answer: he wouldn’t.
Does the news make me a little sad, though? Of course. There are other long haul owners in the NBA–such as Peter Holt (Spurs) and Mark Cuban (Mavericks)–that come to mind who have managed their organizations equally like something they have emotionally invested in as well as a business they have financially invested in. This style has led to championships as well as monetary success.
Obviously, the Nets have not experienced either of those in a long, long time and there’s no reason why they can’t finally become the winning team envisioned when it moved from New Jersey to Brooklyn. Sure, the players on the floor obviously are the ones who win games and eventually titles, but it all starts with the guy at the top who signs the paychecks.
Prokhorov, even with his charm and promises, was not that guy and had to realize it at a certain point to decide to cut his losses and run. It’s a shame that he wasn’t but Brooklyn needs to move on, which it can do once a sale is finalized, because there will definitely be a long line of insanely wealthy people lining up to get their offer in.
The truth is that the Nets, in the biggest city in the country, have the potential to be a powerhouse on and off the floor. They’ve slowly begun the transition from NBA also-ran to legitimate team, just not completely in the contender sense and more of a relevant-in-the-public-scope sense. Naturally, the next step is to actually win multiple playoff rounds in the same postseason.
It’s not the ideal situation in any way, but it’s the hand the Nets were dealt, so they have to deal with it. Even with six straight losses, the chance of falling out of playoff contention, a roster full of overpaid and oft-injured ineffective players and extreme amounts of negativity surrounding the franchise, there is hope for Brooklyn and an exciting owner can make everything better.
Also, with a ton of top free agents entering the fold in the next few years, as the CBA is re-negotiated and salary cap inevitably increased, it just takes one big name to sign with the Nets and all of a sudden this team is a formidable power.
The Nets weren’t, and aren’t going to be, a winner with Mikhail Prokhorov at the helm. That, as much, is clear. What is a little murkier, though, is who will be leading the way. I’d just put my money on that person having a little more commitment than the tall bachelor from halfway around the world did.
Add The Sports Daily to your Google News Feed!
