Well, it looks like the story we reported last week about Russian Billionaire Mikhail Prokhorov buying the New Jersey Nets...or as they may now be know, the Nyets, had some truth to it. The Nets and Prokhorov announced today that they've agreed on a deal that would allow Prokhorov to become the primary owner and contributor to the arena that the team wants built in Brooklyn.
More from the New York Times HERE.
((Mikhail Prokhorov//Courtesy: Alexander Zemlianichenko/Bloomberg News))
Apparently, according to the terms of the deal, Prokhorov, for $200 million, gets 80 percent of the Nets, 45 percent of the arena and takes over the teams debts. Not bad for the man that the Russian version of Forbes magazine says is the richest man in all of Russia. Bruce Ratner, former primary owner will retain a minority share in the team.
It will be interesting to see how he acclimates to running an NBA basketball team. There had been some thought that the Nyets might make a run at LeBron James after this season, now that there is a new "Sheriff" in town, we will see just what kind of impact he makes.
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