Mikhail Prokhorov started trading in stadiums

Billionaire Mikhail Prokhorov may sell his stake in the NYCB Live Stadium, the New York Post learned. Elvis Presley, Elton John and Queen performed in the arena, and in recent years she has been home to the New York Islanders hockey team.
05.08.2019
Forbes
Origin source
Mikhail Prokhorov intends to sell the NYCB Live stadium in New York, which belongs to his Onexim group, sources told the New York Post. According to the newspaper, there are already applicants for the arena.

Prokhorov bought 85% in the NYCB Live reconstruction project in 2015 from American developer Bruce Ratner. In 2009, Prokhorov bought from him 80% of the Brooklyn Nets American basketball team (at that time she played in New Jersey, moved to New York in 2012) and 45% in the Barclays Center stadium, which at that time was only under construction for $ 200 million. In 2015, Prokhorov bought back from Ratner the remaining shares in the Barclays Center and Brooklyn Nets, becoming the sole owner of the team and the stadium.

NYCB Live opened on April 5, 2017, reconstruction of the stadium cost Prokhorov and Ratner $ 165 million, Vedomosti wrote in August 2017.

In April 2018, Prokhorov sold a 49% stake in Brooklyn Nets to Alibaba co-founder Joseph Tsai, but the stadiums were not part of the deal: Prokhorov retained 100% of the Barclays Center, then there was no talk of selling NYCB Live.

Even if Prokhorov can reach an agreement on the sale of NYCB Live, the deal will not happen immediately because of the terms of the agreement between the operator of the BSE Global Stadium and the New York Nasso County, the New York Post notes. According to the newspaper, in the case of the sale of the stadium, the buyer will also receive the right to develop a large area around the arena.

Now the NYCB Live is used by the New York Islanders hockey team, as well as the Long Island Nets basketball club, which is owned by Prokhorov's Brooklyn Nets. In addition, judging by the site of the stadium, it hosts ice shows and concerts. For example, on August 16, a P! Nk concert will be held in the arena, and on October 5, the performance of actor Hugh Jackman. Elvis Presley, Elton John, Queen, Led Zeppelin, Pink Floyd, David Bowie and Madonna have performed in the past in the arena.

Mikhail Prokhorov takes 12th place in the Forbes ranking of “200 richest businessmen of Russia”. His fortune in the rating was estimated at $ 9.8 billion.

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