Still this writer did an awful, shoddy job that contradicts Bloomberg's other writer who released Mikhail Prokhorov's offering statement 8/8/2016 with his financial simulations for the Islanders at Barclay's through 2020-21, his audio interviews left more questions than answers.
And this same writer who contradicted his own article on 12/1 that had Prokhorov's quotes he's not selling Barclay's and only a stake in Nets.
Scott Soshnick 12/1/16:
Russian billionaire Mikhail Prokhorov said he’s hired Allen & Co. to find a local minority investor for the National Basketball Association’s Brooklyn Nets.
Prokhorov in a statement didn’t say how much of the team he’s looking to sell.
“My goal in seeking a local minority partner is to further strengthen the team’s New York presence in order to expand upon our business and community relationships,” he said. “I’m committed to the Nets and will remain the majority owner of the team.”
Scott Soshnick 1/30/17:
And now he contracted his own words on Prokhorov selling Barclay's from November.
The arena, which is already home to the NBA’s Nets and one of the world’s top-grossing concert venues, would make more money without the National Hockey League team, according to people familiar with the facility’s financials.
Russian billionaire Mikhail Prokhorov, who owns the building and the Nets, has since November been seeking an investor to take a stake in both.
So how come Soshnick left out Prokhorov selling a Barclay's stake in November until January, that would be a far bigger story then the Nets.
As for Prokhorov's financial offering statement reported by Martin Braun of Bloomberg 8/8/16 he included simulations with and without the Islanders, including without a hockey variable in 2016-17, and through 2020-21 from CSL. (Convention Sports & Leisure)
NYIFC Comments:
Let's just write Prokhorov's simulations and models through 2020-21 with/without hockey leave Mr Soshnick with a lot more to explaining to do, and raises questions about his work.
Now could Prokhorov drop an opt-out notice 1/30/18? Absolutely, and I expected it since day one he bought full control of Barclay's. But for now the sloppy reporting by Soshnick raises questions to his credibility unless he wants to update his counterpart at Bloomberg from August with new documentation from Mr Prokhorov.
Let's just be kind and write Jim Baumbach is the Bart Crashley of Newsday financial reporting, and Soshnick is someone else from the financial pool who would have been moved in 1972 before the team left Canada.
The simulations submitted by Prokhorov in August gave three projections of the Islanders attendance this season, they are outperforming all three, including the best expectation with far too many early season weeknight games, even vs last season.