Mikhail Prokhorov said he’s hired Allen & Co. to find a local minority investor for the 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.”

Prokhorov consolidated ownership of the team and its arena, Barclays Center in Brooklyn, New York. The purchase from Bruce Ratner’s Forest City Enterprises Inc. valued the team at $875 million and the arena at $825 million, including debt.

The NBA and NBPA are likely to make an official announcement on their new Collective Bargaining Agreement during the week of Dec. 5.

The deal won't be finalized during the week of Thanksgiving and both sides will likely use the week after the holiday to inform their constituents of the current highlights of the deal.

Several aspects of the NBA's new CBA have been leaked such as no change to the current BRI split, an expanded definition of BRI and an increase in cap holds for players coming off rookie contracts.

Mark Cuban believes the NBA is heading in the right direction with their new television deal and the increased popularity of the sport but that more work can be done. 

“Generally speaking, I think we have some challenges,” Cuban said last week. “We don’t have NFL TV ratings, but we have a lot of room to improve. The fans love the game. The people participate. They play fantasy sports. They watch the games. Attendance is good.

“I think we’re in a good spot. People look up to NBA players and that’s always a good thing.”

Cuban also talked about how the NBA has the advantage of recognizable superstars.

“We’re unique among all the big four sports that our players are brands, they are recognizable because of fantasy sports and the love of the game,” he said. “Because of video games, they know the 15 guys on a lot of rosters. I think we’re in a great spot, but we have to continue to be humble. I think that’s going to be the key for us.

“We can’t think because we signed a big TV deal that everything is great. We’ve got to keep on grinding, keep on working hard and keep on trying to improve things because there’s a lot of room for improvement.”

The NBA and the National Basketball Players Association expect to finalize terms on a new collective bargaining agreement “just after Thanksgiving” or in “early December.” 

Adam Silver and Michele Roberts have “a relationship built on mutual respect and trust,” said a source — and that respect has gone a long way. Both sides also agreed early on to keep the Basketball Related Income split the same, with 49 percent to 51 percent of the share going to the players.

While the split will remain the same, the players have done a better job in expanding the definition of BRI.

They “went through the couch cushions,” said a source, “and found a number of areas where owners in the past were able to keep some parts of revenue out of BRI.” 

Revenue from things like luxury suits for non-NBA events wasn't included in BRI.

“The union has effectively argued those things belong in BRI. They’ve expanded the definition,” said the source. “So in addition to the game just growing overall, they’ve increased the pie themselves.”

NBA players received 57 percent of BRI before the 2011 lockout, but with a bigger pie, and changes to the BRI definition, the end result is roughly a $1.7 billion increase for the players, according to a source.

If the players’ union argued for 52 percent or 53 percent, “they wouldn’t then have gotten the extended definition of BRI,” said a source. “The union probably got their way on 70 to 80 percent of the issues.”

As part of the NBA's new collective bargaining agreement, there will likely be a more detailed domestic violence policy.

The current CBA calls for a minimum 10-game suspension for players convicted of a violent felony.

In 2014, Jeff Taylor was suspended 24 games without pay after pleading guilty to misdemeanor domestic violence assault and malicious destruction of hotel property.

Michele Roberts called the sanction “excessive” and “without precedent,” stressing that the NBPA was ready to appeal.

The terms haven’t been finalized, but the measures will go well beyond a fine and a suspension. “I think as we’ve all seen in those situations that it needs to be more than discipline,” a source told The Ringer. “It needs to be about counseling, support services, intervention, outreach, and providing resources behind the scenes to help.”

The length of the NBA preseason will likely be shortened under the new CBA.

“There’s a lot of talk from the player side about doing more to keep players healthy,” a source said. “There are things that can be done to make it so a greater percentage of games played involves the best players at their healthiest, and that’s been a goal for everybody.”

Silver hinted in 2015 that the NBA would explore reducing the preseason as a mean of starting the regular season earlier and also make the schedule include fewer back-to-backs.

The Cleveland Cavaliers are the best paid team on a per player basis in the world.

The average pay for the Cavaliers is $8.7 million per season. LeBron James is making $30,963,450 this season while Kevin Love has a salary of $21,165,675 and Kyrie Irving makes $17,638,063. Tristan Thompson and J.R. Smith also make eight figures annually while Iman Shumpert is just short at $9,662,922.

The NBA's new television deal and the effects of Brexit on the dollar-pound exchange rate have led to their rise up the rankings. Last year, there were five NBA teams in the Global Sports Salaries Survey top-20 and now there are 14.

The New York Yankees rank second followed by the Los Angeles Clippers at No. 3 and Manchester United at No. 4.

Michele Roberts plans to meet with all players in person in the coming weeks to discuss the NBA's new labor agreement.

The players and owners are nearing a deal on a new collective bargaining agreement.

Unlike the lockout of 2011, the owners and players have had a cooperative spirit as the NBA's revenues have hit unprecedented levels.

The owners' percentage of basketball related incoming jumped from 43 percent to anywhere between 49 and 51 percent.