Prokhorov: No intent to sell Nets, committed to outspending opponents next year

Russian billionaire and owner Mikhail Prokhorov attended his first Brooklyn Nets game in months on Wednesday and provided insight into the team's immediate future beforehand.

It had been reported that Prokhorov had hired an investment bank to explore selling the franchise, but it was later believed that he was only looking to sell a minority stake and that any potential sale was held up because Prokhorov valued the franchise at $3 billion.

While Prokhorov admitted he had heard from roughly 10 interested groups but that nothing was on the table any longer as far as selling a minority share is concerned. He said he has no plans to sell his majority stake but not due to a disagreement over the value of the franchise - he conceded that he liked a $1.6 billion valuation from Forbes.

There had been speculation that part of the reason Prokhorov was looking to divest from the Nets was due to a weakened Russian ruble, but he didn't speak as if he'd be cutting corners at budget meetings. Asked about going into the luxury tax once again, Prokhorov said he's committed to outspending every other team if he has to.

A big piece of that luxury tax picture could be Brook Lopez, who is expected to opt out of his $16.7 million player option for next season in hopes of a long-term deal. Prokhorov was clear that he and head coach Lionel Hollins would both like the 7-footer back. 

He also sounded as if Hollins will be back, highlighting the coach's toughness as a key reason. He was less clear about changes in the front office, though he was compimentary of general manager Billy King as well.

The Nets entered Wednesday's game at 36-41 despite the league's highest payroll, with a tenuous grasp on an Eastern Conference playoff spot. This is the fifth year of Prokhorov's ownership, which famously began with the bachelor promising to finally get married if the team didn't win a championship within five years.