Mikhail Prokhorov's Unique Offer
Mikhail Prokhorov, the Russian billionaire being courted by Forest City Ratner to help fund the Barclays Center arena for the New Jersey Nets (to become the Brooklyn Nets), posted his counter offer to the Atlantic Yards shareholders on his blog yesterday. Develop Don’t Destroy Brooklyn brings us a translation of the entry, which DDDB calls…
Mikhail Prokhorov, the Russian billionaire being courted by Forest City Ratner to help fund the Barclays Center arena for the New Jersey Nets (to become the Brooklyn Nets), posted his counter offer to the Atlantic Yards shareholders on his blog yesterday. Develop Don’t Destroy Brooklyn brings us a translation of the entry, which DDDB calls “rather foolish and absurd.” The gist is that Prokhorov will finance the arena in exchange for a significant share in the project as well as a controlling share in the Nets. What’s unique about the post is that it sounds like Prokhorov’s primary interest in the deal is the opportunity to elevate the state of basketball in Russia, which he says suffers from inconsistent financing and an unstable, unprofitable business model. He writes: “For our group, participation in such a complex project undoubtedly is interesting only in the event that NBA technology can be used for the systematic development of basketball in Russia.” (Perhaps NBA technology sounds less bizarre in Russian? And since when do oligarchs have blogs?)
NJ Nets and the Development of Russia’s Basketball [Mikhail Prokhorov Blog]
Prokhorov Issues Absurd Statement on the Nets, AY [DDDB]
Can I give an in between answer, antidope? I think an arena is going there no matter what. Like you I would rather see one that adds to the neighborhood, not to traffic congestion. But I do care where the money comes from- only in that I don’t feel tax payers should be subsidizing it at all. Ratner has been given too many gifts- between special deals, subsidies, eminent domain, etc. the fact that he still can’t get it done says quite a lot about his abilities. DDDB notwithstanding.
imo, that stuff about building russian basketball is meant for internal consumption and may be aimed at bringing in the local league owners into a syndication of his position. he wants the economics and prestige first.
there are much cheaper ways of building “technology” bridges.
do you want an arena or not?
if not, just say so.
if yes, do you really care if the money is russian or american or african? really? do you think the “NY taxpayers subsidizing the blah blah blah” really makes this a risk free investment? why aren’t there lines of americans begging to get into the project. and puhlease don’t tell me it’s because they think it’s a bad design…
i’m all for making a first class arena that relies on the subway infrastructure. i don’t know how one can do it legally but i’d certainly look into restricting any developer owned land and eminent domain land from being used as a parking lot. restrict available parking and rates will be high enough to encourage train usage.
brooklyn nets fans can drive to their local elevated platform and take the train in.
Sorry very busy at work. I meant NBA instead of MBA
OK, here is my 5 cents after reading Prokhorov’s blog. He is not interesting in “technology” of the MBA. He is interested in the whole success of the MBA league. Seems like he is taking the deal ONLY if the MBA league agrees to his counter offer and he is doesn’t seem so much interested in Brooklyn or the Nets but more in developing Russia’s basketball league and having MBA help it being recognized as into the world basketball league. One of the parts of his counter offer is that he wants the MBA league let top Russian players train at MBA school here (I am guessing college basketball) because without it, they will just be benched on world teams without a chance to get any play time. He wants the potential Russian stars to thrive before the hit the big leagues and the way to do it, is if they get exposed in minors and get well known before any contracts for majors.
“So now NY taxpayers are funding an enterprise that will be controlled by a Russian businessman????”
“NY taxpayers subsidizing the Forbes 40th richest man in the world and currently the richest man in Russia…. ”
Funny how pro-AY people ignore these two statements. But DDDB is the nutjob? I don’t think so.
I love the dialog in “Everything is Illuminated” where the Ukranian guy has apprently learnt his English from a thesaurus and continually uses the the wrong word. “Were you proximal to your grandfather?”
How is Team USA going to maintain their dominance in world basketball if they let this guy in?
A guy who admits this his Russian technology is inferior and hopes to overcome this by acquiring superior US technology.
A guy who’s primary objective is to re-elevate Russian basketball to “position of equality among the elites of world basketball”.
I’d call that a bit foolish.
NY taxpayers subsidizing the Forbes 40th richest man in the world and currently the richest man in Russia….
Now.. That’s absurd..
DDDB- will you distinguish between good and bad terms? seems to me you will not like any terms that allow the arena to be built…