Officially, Mikhail Prohkorov owns the Nets.
Following Tuesday’s approval from the NBA’s Board of commissioners, the Russian billionaire today closed on a deal with developer Bruce Ratner to buy the Nets for $200 million (and fund tens of millions in losses), according to a joint statement put out by Mr. Ratner’s Forest City Ratner and Read More
Bruce Ratner’s tenure at the top of an NBA team is over.
Russian billionaire Mikhail Prokhorov was just approved as the Nets’ new owner by the NBA’s board of commissioners, according to a statement sent out by the NBA.
This ends a more than six-year stretch for Mr. Ratner, the Brooklyn-based developer whose Nets sunk to Read More
Bruce Ratner has another year to raise $324 million. Read More
If Atlantic Yards is Bruce Ratner’s Odyssey, he’s approaching Ithaca.
More than six years after the ambitious project was unveiled to the world, the Brooklyn developer announced Wednesday that he had completed a “master closing” for the project, executing mountains of contracts with numerous governmental agencies and finalizing the financing of $511 million in tax-free Read More
Score a big win for Ratner! Financing nearly complete for his Brooklyn arena, key piece of Atlantic Yards. Read More
The latest quarterly filing from Forest City Enterprises–parent company of Atlantic Yards developer Forest City Ratner–is in, and there’s a few points worth noting:
-The company’s efforts to start construction on the Nets arena faces another previously unreported hurdle: Forest City stopped sending in required payments on a $162 million loan–the mortgage on its Read More
On Sept. 9, Bruce Ratner, the powerful developer scrambling to start building a new Brooklyn basketball arena for the Nets, gave a prediction: The credit ratings agencies would deliver ratings on about $700 million in bonds for the arena by the end of the month. The ratings are a necessary precursor of financing the Read More
By Bruce Ratner’s telling, his deal to sell the Nets to Mikhail Prokhorov began in earnest this summer over dinner at the Russian billionaire’s home.
Mr. Ratner, on a tour Wednesday of his Frank Gehry-designed Beekman apartment tower under construction in Lower Manhattan, shared a few details about the recently announced deal, which is key Read More
The Russians are coming! To Brooklyn.
The investment fund Onexim, headed by Russian billionaire Mikhail Prokhorov, has agreed to a $200 million deal in which it will take a major stake in the NBA’s Nets franchise and its new arena planned for Brooklyn, part of the larger $4.9 billion Atlantic Yards project. Read More
Bruce Ratner today got to check off another box on his Atlantic Yards “To-Do Before the New Year” list.
The state’s development agency Thursday morning approved Mr. Ratner’s revised plan for his $4.9 billion Brooklyn project, giving New York’s assent to the planned Nets arena as well as the surrounding 15 apartment towers nearly Read More
