Mikhail Prokhorov officially agrees to sell majority ownership of Nets to Joe Tsai
Prokhorov bought controlling interest of the Nets and a minority stake of Barclays Center in 2010 from Bruce Ratner for $223 million. He also agreed to take on $160 million in debt. According to Netsdaily.com, Prokhorov sold his shares of both entities to Tsai for $3.5 billion — an outrageously massive profit.