The Knicks' free agency failures have paved a path to record revenue for the rival Nets

Brooklyn Nets

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  • Brooklyn Nets owner Mikhail Prokhorov told Bloomberg he expects the team to hit a franchise record for revenue next season thanks to the free agency additions of all-stars Kevin Durant and Kyrie Irving.
  • The Nets officially announced the signings on Monday, and the combined contracts for the two players are worth $305 million.
  • The Nets signed Durant after the New York Knicks refused to offer him a max contract with $164 million, citing uncertainty around his recent Achilles injury.
  • The Knicks targeted Irving during free agency, but he opted to join the crosstown Nets.
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The Brooklyn Nets' decision to splash more than $300 million for just two players has it on course to set a new revenue record.

That's what billionaire owner Mikhail Prokhorov told Bloomberg on Tuesday, citing the immense windfall the team expects to enjoy after signing all-world superstars Kevin Durant and Kyrie Irving.Advertisement

The reasoning is simple: The addition of high-profile players like Durant and Irving will likely lead to more ticket and merchandise sales, and corporate sponsorships.

For context, the Nets pulled in $290 million in revenue last year, up from $273 million the prior year, according to estimates from Forbes magazine.

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Record sales would come at a time of struggle and uncertainty for the Nets' crosstown rivals, the New York Knicks. The Knicks' failure to sign Irving, decision to not make a max offer to Durant, and inability to acquire any high-profile free agents shaved $200 million off of Madison Square Garden's market value in early July.Advertisement

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