Billionaire Nets Owner Says $144 Million Loss Is Pocket Change, Rips Ex-Coach Jason Kidd

Brooklyn Nets owner Mikhail Prokhorov made a rare appearance at Monday night’s Nets-Thunder game.

The Russian oligarch has been criticised for being an absentee owner while his team disappointed on the court and lost $US144 million in 2013-2014. He addressed those concerns, as well as the abrupt offseason departure of coach Jason Kidd, in a pregame news conference on Monday.

He did it in classic Prokhorov fashion.

When asked about the $US144 million loss, he told reporters: “It’s not a big deal, because I personally compensate this money from my pocket.”

Pocket change!

The Nets $US144 million loss is extraordinary. According to Grantland’s Zach Lowe, nine NBA teams claimed to lose money in 2013-2014. The team with the second-biggest losses, the Washington Wizards, lost $US13 million. Much of that Nets loss came from the $US90 million in luxury taxes the team had to pay because of its exorbitant payroll.

The best Prokhorov quote came when he talked about Jason Kidd, who quit the Nets and joined the Bucks last summer.

Prokhorov told ESPN:

“I think there is a nice proverb in English: Don’t let the door hit you where the good Lord has split you. So I think that each side, we did what we thought was the best and I like what we have now.”

Here’s the tremendous video of Prokhorov saying, “Don’t let the door hit you where the good Lord has split you:”

Prokhorov is worth $US10.2 billion. While he gets criticised for only coming to Brooklyn a handful of times per season and running up insane payrolls, the Nets were a wise investment. He bought the team for $US200 million in 2010. Four years later Forbes valued the team at $US780 million, which is probably low considering the Los Angeles Clippers sold for $US2 billion when Forbes had them valued at $US575 million. 

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