The ownership of the Brooklyn Nets are holding "ongoing discussions" with Guggenheim Sports and Entertainment Assets 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 first source emphasized that Prokhorov would continue to control the team as "governor and controlling owner" of the team "for the foreseeable future." Prokhorov currently owns 80 percent of the team and 45 percent of the arena.

Guggenheim Sports and Entertainment purchased controlling interest of the Dodgers in 2013 for $2.15 billion.

Adrian Wojnarowski and Zach Lowe both report that Prokhorov could cash out his ownership stake "sooner than later."