The Russian billionaire who owns the Brooklyn Nets has decided to sell the NBA team amid concerns about its   financial losses and performance on court, according to reports. Mikhail Prokhorov, 49, has apparently retained investment adviser Evercore Partners to sell his share of the basketball franchise, which he bought for a staggering $223million in May 2010. The businessman, who is worth an estimated $11.1billion, currently holds 80 per cent of the Nets, as well as 45 per cent of the Barclays Center, the club's two-and-a-half-year-old arena in New York. Of these, only the team is for sale, two sources close to the matter told Bloomberg News. Looking to sell? Mikhail Prokhorov (pictured) has retained investment adviser Evercore Partners to sell his share of the basketball franchise, which he bought for a staggering $223million in May 2010, it is claimed . 'It’s a unique asset which is going to garner national and international interest,' Sal Galatioto, founder of Galatioto Sports Partners, which has sold several NBA teams, told the broadcaster. According to valuations expert Peter Schwartz, the Nets is believed to be worth around $1.3billion. But its sale price could exceed $2billion - surpassing the amount that Microsoft's Steve Ballmer spent on the LA Clippers last year - because of its home in the No 1 US media market, Mr Schwartz said. The sale would also involve the buyer gaining control of the team. According to ESPN, sources have  said Prokhorov's decision to sell up comes amid worries about the team's $144million loss in basketball-related business in the financial year 2013-14. This loss was a whopping $131million more than the next highest team, Grantland.com reported. Team: The businessman, who is worth an estimated $11.1billion, currently holds 80 per cent of the Nets (pictured: Brook Lopex, left), as well as 45 per cent of the Barclays Center, the club's arena in New York . Owner: Of these, only the team is for sale, two sources close to the matter said. Above, Prokhorov is pictured drinking champagne with American rapper and Nets investor Jay-Z, after he purchased the team in 2010 . Prokhorov, one of the world's richest men, is also said to be concerned about the Nets' performance on court. The team is currently in last place in the NBA Eastern Conference, with a record of 16-22. Despite the reports - all of which have stemmed from sources who have insisted on anonymity - Prokhorov's spokesman, Ellen Pinchuk, has denied that he the tycoon selling the Nets. 'As we have been saying for many months, team ownership is open to listening to offers,' she said. 'That’s part of the business. There is nothing imminent in terms of the sale of any stake in the team.' The rumors come seven months after Prokhorov was said to be listening to offers for the Nets, who have the highest payroll in the league at $91million. At the time, he denied any interest in selling. But in October, the Nets and Dodgers were reported to be discussing a merger of sorts that some believed would have been a straight sale. However, it later emerged that talks had broken down. In November, Prokhorov was noncommital about selling the Nets, telling the Washington Post: 'My position is that I will not give up control of the team. 'But you know, I am quite happy when somebody sending me a nice offer without taking my control of team. I think, for the time being, nothing is imminent, but still I think it’s not bad just to listen.' Denial: Prokhorov, who ran against Vladimir Putin (pictured) for president two years ago, denies the reports . Prokhorov, who ran against Vladimir Putin for Russian president two years ago, has lost more than $1billion since November, according to the Bloomberg Billionaires Index. This is due to the dramatic weakening of Russia's currency, the ruble, against the dollar last month after an interest rate hike led to panic among investors. If the reports are true, the Nets are the second NBA team to go on the market after the Atlanta Hawks, who were put up for sale on January 8.
Mikhail Prokhorov, 49, bought Brooklyn Nets for $223million in May 2010 .
He currently owns 80 per cent of club and 40 per cent of Barclay Center .
Has reportedly retained Evercore Partners to sell his share in franchise .
Comes amid concerns over team's performance and finances, it is said .
Nets' home in No 1 US media market 'could see it sell for over $2billion'
Prokhorov, who once ran for Russian President, has denied the reports .
The Russian billionaire who owns the Brooklyn Nets has decided to sell the NBA team amid concerns about its   financial losses and performance on court, according to reports. Mikhail Prokhorov, 49, has apparently retained investment adviser Evercore Partners to sell his share of the basketball franchise, which he bought for a staggering $223million in May 2010. The businessman, who is worth an estimated $11.1billion, currently holds 80 per cent of the Nets, as well as 45 per cent of the Barclays Center, the club's two-and-a-half-year-old arena in New York. Of these, only the team is for sale, two sources close to the matter told Bloomberg News. Looking to sell? Mikhail Prokhorov (pictured) has retained investment adviser Evercore Partners to sell his share of the basketball franchise, which he bought for a staggering $223million in May 2010, it is claimed . 'It’s a unique asset which is going to garner national and international interest,' Sal Galatioto, founder of Galatioto Sports Partners, which has sold several NBA teams, told the broadcaster. According to valuations expert Peter Schwartz, the Nets is believed to be worth around $1.3billion. But its sale price could exceed $2billion - surpassing the amount that Microsoft's Steve Ballmer spent on the LA Clippers last year - because of its home in the No 1 US media market, Mr Schwartz said. The sale would also involve the buyer gaining control of the team. According to ESPN, sources have  said Prokhorov's decision to sell up comes amid worries about the team's $144million loss in basketball-related business in the financial year 2013-14. This loss was a whopping $131million more than the next highest team, Grantland.com reported. Team: The businessman, who is worth an estimated $11.1billion, currently holds 80 per cent of the Nets (pictured: Brook Lopex, left), as well as 45 per cent of the Barclays Center, the club's arena in New York . Owner: Of these, only the team is for sale, two sources close to the matter said. Above, Prokhorov is pictured drinking champagne with American rapper and Nets investor Jay-Z, after he purchased the team in 2010 . Prokhorov, one of the world's richest men, is also said to be concerned about the Nets' performance on court. The team is currently in last place in the NBA Eastern Conference, with a record of 16-22. Despite the reports - all of which have stemmed from sources who have insisted on anonymity - Prokhorov's spokesman, Ellen Pinchuk, has denied that he the tycoon selling the Nets. 'As we have been saying for many months, team ownership is open to listening to offers,' she said. 'That’s part of the business. There is nothing imminent in terms of the sale of any stake in the team.' The rumors come seven months after Prokhorov was said to be listening to offers for the Nets, who have the highest payroll in the league at $91million. At the time, he denied any interest in selling. But in October, the Nets and Dodgers were reported to be discussing a merger of sorts that some believed would have been a straight sale. However, it later emerged that talks had broken down. In November, Prokhorov was noncommital about selling the Nets, telling the Washington Post: 'My position is that I will not give up control of the team. 'But you know, I am quite happy when somebody sending me a nice offer without taking my control of team. I think, for the time being, nothing is imminent, but still I think it’s not bad just to listen.' Denial: Prokhorov, who ran against Vladimir Putin (pictured) for president two years ago, denies the reports . Prokhorov, who ran against Vladimir Putin for Russian president two years ago, has lost more than $1billion since November, according to the Bloomberg Billionaires Index. This is due to the dramatic weakening of Russia's currency, the ruble, against the dollar last month after an interest rate hike led to panic among investors. If the reports are true, the Nets are the second NBA team to go on the market after the Atlanta Hawks, who were put up for sale on January 8.
The Russian billionaire who owns the Brooklyn Nets has decided to sell the NBA team amid concerns court, according to reports. Mikhail Prokhorov, Evercore Partners to sell his share of the $11.1billion, currently holds 80 per cent of the staggering $223million in May 2010, it is claimed No 1 US media market, Mr Schwartz said. The sale who ran against Vladimir Putin for Russian