The exact dollar amount is not yet known, but it was believed Prokhorov wouldn’t spend too much beyond the roughly $31 million Forest City Enterprises owes him to cover team losses.
MORE: SN predicts the 2016 Eastern Conference All-Stars | Western Conference All-Stars
The NBA is reviewing the deal, the report says. Earlier this year, valuations expert Peter Schwartz said the Nets and Barclays Center are worth about $2 billion.
With full control over the team and arena, Prokhorov has the power to sell all or part of either asset. He said in September he isn’t going to sell the team; rather, he insisted he’ll spend more with the Nets’ open cap space in 2016-17.
Prokhorov originally bought an 80 percent share of the Nets in May 2010 for $200 million. He also contributed another $200 million to finance a portion of the construction of Barclays Center, which is also home to the NHL’s Islanders.
