Nets' picks owned by Celtics just got more valuable

Nets' picks owned by Celtics just got more valuable
June 25, 2014, 3:00 pm
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BOSTON — The Boston Celtics getting three, first-round picks from Brooklyn for Kevin Garnett and Paul Pierce was seen as a steal last year.


That deal might become an even bigger heist if Nets owner Mikhail Prokhorov keeps his word and pulls back on his free-spending ways with the goal being to have the Nets valued at $1 billion.

In a New York Post story, one of the Net's part-owners, Forest City Enterprises, announced earlier this year it would sell its 20 percent stake in the Nets.

Prokhorov's goal is for that stake to be valued at $200 million which would position the Nets' valuation to soar to $1 billion.

Now that's only half of what the Los Angeles Clippers are in line to get from former Microsoft CEO Steve Ballmer, but that's considerably more than any other NBA team is currently valued at.

Accomplishing that is easier said than done considering the over-the-top spending Brooklyn did last season - a league-high $102 million payroll and a $90 million tax bill) which bought them a second round trip to the playoffs where they were dispatched by the Miami Heat in five games.

The plan according to the Post, is for the Nets to be profitable heading into the 2016-2017 season.

Boston already has the No. 17 pick in this year's draft from the Nets deal, and they will have Brooklyn's first round pick in 2016 as well as the Nets' first-round pick in 2018.

Not only does this bode well for those picks being higher in the draft for the Celtics to use for themselves, but it also means the value of flipping them to another team increases.

And while it appears that teams are luke-warm on acquiring draft picks prior to the draft, that might change during free agency which begins next month.

So the deal that sent the entire NBA in a tizzy on draft night last year because of it seemed so lopsidedly in favor of Boston, is looking even better now for the Green team.