Report: the Dodgers are in talks with the Brooklyn Nets over a “combination of assets”


Because the Dodgers need a coast-to-coast empire, more reasons to play up their ancient Brooklyn connection and an association with a literal oligarch instead of the practical oligarchs which currently own them. From

The ownership of the Brooklyn Nets is in “ongoing discussions” with Guggenheim Sports and Entertainment Assets, owners of the Los Angeles Dodgers, on a “combination of assets.” Mikhail Prokhorov would remain in control of the Nets, say sources close to the discussions.

In the discussions, the team is being valued at $1.7 billion and the arena at $1.1 billion, said both sources. There is no agreement yet, nor a deadline for a conclusion of the discussions. The next step would be an agreement in principle followed by a closing.

My snark aside, this is probably best looked at as a real estate development deal, not a sports deal. That’s a huge part of Prokhorov’s interest is in the Nets in the first place, given all of the money to be made developing the area around the arena in Brooklyn. And of course Guggenheim Partners is all about investing in, well, everything, but I’m sure a big part of their move to get the Dodgers was the development opportunities at Chavez Ravine.

So this is all interesting, but it’s less of a sports story than it is a “stuff way bigger and more lucrative than sports” story.