Skip to contentSkip to site index

Russian billionaire nearer to scoring Nets deal

Russian billionaire Mikhail Prokhorov may be closer than ever to achieving his dream of owning an American basketball team. The metal tycoon took to his blog in September to express his desire to become the controlling shareholder of the potential New Jersey Nets. Now, Prokhorov and the Nets ownership have reportedly reached an agreement that would sell 80 percent of the team and 45 percent of the new arena to the Russian billionaire. Prokhorov’s interest in the Atlantic Yards development has drawn ire on both sides of the globe, with high-profile Russian leaders calling his potential investment “unpatriotic” and Atlantic Yards opponents speculating that Prokhorov’s funding suggests fiscal weakness in the Forest City Ratner Companies team. The deal is still subject to approval from the NBA Board of Governors, according to USA Today.

Recommended For You