Future Of Nets Owner After Losing $144 Million

Photo Credit: Flickr

Photo Credit: Flickr

It is well known to the majority of NBA fans that Brooklyn Nets owner Mikhail Prokhorov is essentially made of money, with a net worth of $13 billion. This excited Nets fans because Prokhorov gives the organization much more flexibility to sign start players. However, he is also no stranger to losing money as Grantland.com reported that the Nets lost $144 million over the 2013-2014 season in basketball operating costs. This caused his role as owner to be questioned, and some are speculating his future with the Nets might continue much longer.

Prokhorov’s response was like no other saying, “It’s not a big deal, because I personally compensate this money from my pocket. My position is that I will not give up control of the team. But you know, I am quite happy when somebody sends me a nice offer without taking my controlling interest. I think for the time being nothing is imminent. But still I think it is not bad just to listen.”

Another controversial decision by Prokhorov was when Jason Kidd was hired last year as head coach even though he just finished his playing career and no experiencing coaching in the NBA. That relationship obviously did not go well, as Kidd was traded to the Bucks this past summer for second-round picks.

When asked about Kidd, Prokhorov said, “I think there is a nice proverb in English: Don’t let the door hit you where the good Lord has split you. So I think that each side, we did what we thought was the best and I like what we have now.” When asked if he was mad about how their relationship with Kidd played out, Prokhorov said, “I think we shouldn’t get mad. I think we should get even. And we will see it on the court.” I always think it is a gamble when you go for a marketable coach, but with no experience like Kidd. The Knicks are in a similar situation with Derek Fisher, but I believe Fisher will be much more successful than Kidd because he has the Zen Master in Phil Jackson overseeing things in the organization.

So as of now, Prokhorov is staying put with the Nets, at least until somebody can offer him enough money to give up controlling interest.

The Nets are currently 2-1 and play the Minnesota Timberwolves Wednesday night.

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