But how much?
The New York Post, quoting an unnamed investment banker, reports on the soaring value
In May 2010, [Mikhail] Prokhorov bought 80 percent of the team and 45 percent of the arena for $223 million. Of that amount, around $140 million was allocated for the purchase of the team, a source said.Looking more carefully
Today, after subtracting $225 million in loans from its estimated $575 million value, the team’s has about $350 million in equity. So Prokhorov’s 80 percent stake would be worth $280 million — or double his $140 million investment.
If you do subtract those loans, to which Prokhorov contributed considerably, there's still the matter of $60 million in team losses. (More from NetsDaily.) The New York Times reported in 2009:
Although Prokhorov’s cash investment was announced at $200 million, he will also finance future Nets losses, up to $60 million, that are expected to accumulate before the move to Brooklyn, according to an executive involved in the transaction. The team has reported nearly $400 million in pretax net losses for its dozens of investors, including $129 million by Forest City Enterprises, Ratner’s Cleveland-based parent company.Also not factored in is this: the amount Prokhorov has promised to invest in the team as part of the deal.
Prokhorov will also be responsible for 80 percent of the $207 million in debt the team holds if the sale goes forward.
The Nets have the league's third-highest payroll, as noted by NetsDaily's Bob Windrem: $81.8 million, prompting a luxury tax of at least $11.5 million this year, and perhaps double next year.
Still, Prokhorov now has most of the team and 45% of the arena. What enabled it? Government help.