New Jersey Nyet’s
Posted: September 24th, 2009 | Author: Javi | Filed under: Sports | Tags: Atlantic Rail Yards, billionaire, Mikhail Prokhorov, NBA, New Jersey Nets, Onexim Group, Russian | 1 Comment »
In a business move seemingly made to bring the New Jersey Nets one step closer to Brooklyn, Russian billionaire Mikhail Prokhorov has agreed to invest $200 million into the team, acquiring 80 percent ownership of the NBA franchise, as well as 45 percent stake in the team’s proposed arena at the Atlantic Rail Yards.
“We are delighted to join in this exciting project and to participate in the landmark development of global sports in this entertainment arena in the heart of New York City,” said the president of Onexim Group, a private investment company. “I have a long-standing passion for basketball and pursuing interests that forward the development of the sport in Russia.”
If all goes well, Prokhorov would become the first owner of an NBA franchise from outside North America.
