Welcome to the Brew Hoop Night Shift. Every evening at 9:00pm (central time), this all-purpose thread goes up, and the comments section is where it’s going down. What Bucks news did we not cover? What topics do you want to break down further? Or is there something non-Bucks that you want to bounce off of one another? Even something non-basketball? This is the place.
Today’s (on)topic: Brooklyn Nets Selling Price
Mikhail Prokhorov is selling just under half of the Nets at a total team valuation of ... $2.3 BILLION. https://t.co/aZ3LCRjUwF— SB Nation NBA (@SBNationNBA) October 27, 2017
The guy that co-founded online retail mega giant, Alibaba, has joined forces with the Nets’ other foreign gazillionaire. The way this transaction is structured, the new minority owner will overtake and be given the option to be the principal owner in four years,
This is the part I found most interesting:
Untangling all of Prokhorov’s expenses... will be difficult. But on paper, Prokhorov bought the Nets at a valuation of around $800 million in 2010 and flipped it for almost three times that amount in seven years. That’s pretty incredible and speaks to how fast NBA team valuations are rising.
The Bucks were bought for $550 million back in 2014 and I can only imagine how much they would go for now with the new arena and downtown buildings currently under construction by the team owners. One of the keys to the Nets being valued at $2.3 billion(!), is the Barclays Center being located in Brooklyn. New York real estate is insane and being in the largest United States market helps the valuation, obviously.
The Atlanta Hawks were bought for $1 billion and the Houston Rockets for $2.2 billion, but those were for outright majority shares. The flipping of NBA franchises is like the most high stakes HGTV program.
Today’s (off)topic: Lazy Halloween Costumes
Nothing like being able to spot somebody that needed a costume idea at the last second and Googled, “Last minute Halloween costume ideas,” and be given a list of really lame costumes that revolved around an even lamer pun. This kind of costume was every single guy I saw at costume parties in college.
Any of you channel your inner Jim Halpert and throw on a costume that takes minimal effort?
As a general rule, non-basketball topics are permitted in an open thread, provided that they follow the SB Nation Community Guidelines.