The county didn’t originally start out dealing with Prokhorov. He bought out Forest City Ratner and Bruce Ratner as his partner when he wanted to get out. So Prokhorov ended up with the Nets, Barclays, and the Coliseum lease.
That is very interesting, if only because the Coliseum contract was then assigned to Prokhorov as part of the overall deal and ownership transfer.
You would think that the assignment would have been in full accordance with the original contract terms, negotiated between the county and Ratner.
So, if Prokhorov can indeed legally shutter the Coliseum and abandon his responsibilities, then presumably the county did a poor job negotiating the original agreement or it was modified as part of the assignment.
Given the stakes to the county, with the debt outlay and monetary expenditures, it should have been ironclad. Presumably even with the suspension of activities and income due to Covid.
It should really make for a fascinating case and litigation, assuming it isn't just posturing for some concessions or bargaining power. I bet municipalities with arenas/stadiums and their lawyers are revisiting contracts right now and pouring over the fine print.