THE NETS’ financial hemorrhage reached $25 million in the first six months of 2009. And even with that spiffy “reversible jerseys” promotion planned this season, the money outlook wasn’t improving.
But a lifeline has arrived from Russia, billionaire Mikhail Prokhorov, who’ll spend $200 million for 80 percent of the team and 45 percent of the planned Brooklyn Barclays Arena. Prokhorov’s pockets are deeper than the nickel mines where he made much of his $9.5 billion fortune, money that’s organizational oxygen for a team suffocating on a shoestring budget with a skeleton crew.
“It’s no secret we’re having financial difficulties,” guard Keyon Dooling, a union VP and the Nets’ player rep entering the last year of his contract, said yesterday. “So I’m very enthused by this. I’m in a position where I might be re-signed or not the following year. It might be a situation where money decides. Nobody wants the decision to be based solely on money.”
So with Prokhorov replacing Bruce Ratner as principal owner, “How much?” won’t be a question. And with the free agent class of 2010 on the horizon — LeBron James suddenly doesn’t seem so far-fetched, huh? — there could be some real excitement with the area’s “other” team.
The guy has money. The guy apparently will spend. Prokhorov, president and founder of the investment fund Onexim Group, was part owner of the CSKA Moscow team that won two Euro League titles.
The Nets yesterday awaited the next move. Team president Rod Thorn said it’s too early to speculate on what it all means. Players, he said Tuesday, usually are not concerned with who owns the team. Devin Harris supported that.
“My first priority is my on-court responsibility to this team,” Harris said. “I leave those business decisions in good hands with Nets management. We are looking forward to starting the season, and if he is excited about us, that can only be a positive for everyone.”
Some have seen a negative, namely that those among Nets management in the last year of their deals, Thorn included, could be unemployed. But re-upping Thorn should be a no-brainer. He has overseen not one, but three rebuilding plans since joining the Nets.
After one year of sludge, he traded for Jason Kidd and two Finals followed. New ownership arrived, broke up the team with absurd cost-cutting that expelled Kenyon Martin and Kerry Kittles. So Thorn got Vince Carter who helped respectability return. Carter was dealt in June so Courtney Lee — and future cap flexibility — joins some nice young talent for Rebuilding III.
Thorn, last April before a summer when his hands virtually were tied financially, said he wants to return.
“I enjoy what I do. As long as I’m healthy, I’d like to be in basketball in one form or another,” Thorn said back then. “I want to be in the action, good or bad.”
Prokhorov won’t take over formally until early 2010, but surely he will have input. He needs 75 percent approval from the NBA Board of Governors, which seems a given — commissioner David Stern gave his blessing in a statement yesterday.
So with an Prokhorov’s financial infusion that should upgrade all areas, the Nets will have the cap space, young talent — and the money — to attract free agents.
fred.kerber@nypost.com