NEW YORK -- Brooklyn Nets owner Mikhail Prokhorov's goal is to win a championship -- and he expects do so within the next three years.

"Every team has a grand plan, and we're moving slowly, step by step, because it's easy to make a strong team, but it's very difficult to make a championship team. So we are on the right way and I'm expecting our championship within three years now," Prokhorov told reporters Friday morning after participating in a ribbon-cutting with partner Bruce Ratner and New York City Mayor Michael Bloomberg, marking the ceremonial opening of the $1 billion Barclays Center in downtown Brooklyn.

Mikhail Prokhorov has a grand plan for the Nets, who open their new arena in their first season in Brooklyn Nov. 1 against the rival Knicks. "I'm really thirsting for the first of November," he said. AP Photo/Bebeto Matthews

When Prokhorov bought the team in 2010, he said the Nets would capture the NBA title within five years, meaning his plan remains on schedule.

"He said five, so we're down to three. To me, it's a great goal," Nets general manager Billy King said. "I'd rather him say that than say, 'Hopefully we're going to win a championship at some point.' That's the goal, and I look forward to the challenge."

The Nets have gone just 58-172 over the last three seasons and haven't made the playoffs since the 2006-07 season. But Prokhorov, the Russian billionaire, opened his wallet over the summer, allowing King and assistant GM Bobby Marks to dole out more than $330 million to retain superstar point guard Deron Williams and surround him with talented players like shooting guard Joe Johnson.

"For me there is only one place: No. 1," Prokhorov said. "And I'll do my best in order to reach a championship."

Prokhorov confidently said he believes King will be "GM of the Year," and he doesn't care how much money he has to pay in luxury taxes.

"You can add it up. I don't want to do your job, but for me it's most important to have a championship," he said.