Barclays Center in Brooklyn, in which he also held a stake. He relinquished his stake after registering as a sports agent with his new agency Roc Nation Sports, to avert any potential conflicts of interest. His shares were eventually sold to singer, rapper, actor and entrepreneur Will Pan, making Pan the first American of Taiwanese descent to own a U.S. professional sports franchise. On September 24, 2009, Mikhail Prokhorov, Russia's third-richest man according to Forbes, confirmed his intention to become majority owner of the Nets. Prokhorov sent an offer to the team owners requesting that the controlling shares of the basketball club be sold to his company, Onexim, for a symbolic price. In return, Prokhorov funded a loan of $700 million for the construction of Barclays Center, and attracted additional funds from Western banks. Prokhorov stated that he initiated the deal to help push Russian basketball to a new level of development. On May 11, 2010, following approval from the other owners of NBA teams, Prokhorov had become the principal owner of the Nets. In late 2017, Prokhorov agreed to sell a 49% stake in the team to Joseph Tsai, with an option for Tsai to become the majority owner. The option was exercised in August 2019, with Tsai also buying the Nets' arena, Barclays Center, from Prokhorov for nearly $1 billion in a separate deal. The NBA Board of Governors unanimously approved the sale to Tsai on September 18, 2019. Facilities Home arenas Source: Practice facilities The Nets' practice facility and headquarters for the team's basketball operations are located at the Hospital for Special Surgery Training Center in the Industry City complex in the Sunset Park neighborhood of Brooklyn. The facility opened on February 17, 2016, and is built on the roof of an empty warehouse in the complex, occupying 70,000 square feet of space in total. The renovation project cost roughly $50 million. The opening of the training center completed the Nets' move to Brooklyn. The team's previous practice facility was at the 65,000-square-foot PNY Center in East Rutherford, New Jersey, which opened in 1998. Prior to that, the team practiced at the APA Recreation Center in North Bergen, New Jersey, sharing their lockers and practice courts with truck drivers who used the facility, and at Ramapo College in Mahwah, New Jersey. In the aftermath of Hurricane Sandy in November 2012, PNY Center suffered a power outage and