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WEDNESDAY, NOVEMBER 25, 2009
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7

Russian Tycoon Makes Bid for NJ Nets

NBA team could be first to go under foreign ownership

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(Newser) – A Russian tycoon has made a bid for a controlling stake in the New Jersey Nets, in what could become the first instance of foreign ownership of an NBA club, Reuters reports. Mikhail Prokhorov, Russia’s richest man, said on his blog that his Onexmi group had offered to loan the team most of the cost of a planned stadium—an amount sources peg at $700 million. The terms of the loan would see Onexim receive a controlling stake for a “symbolic” price.

In this 2007 file photo, Mikhail Prokhorov speaks at a news conference in Moscow.
In this 2007 file photo, Mikhail Prokhorov speaks at a news conference in Moscow.   (AP Photo/Mikhail Metzel, File)
Billionaire Mikhail Prokhorov speaks to the media in Moscow, on Monday, Sept. 22, 2008.
Billionaire Mikhail Prokhorov speaks to the media in Moscow, on Monday, Sept. 22, 2008.   (AP Photo)
New Jersey Nets' Vince Carter (15) in action.
New Jersey Nets' Vince Carter (15) in action.   (AP Photo/Bill Kostroun,file)
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For our Onexim group the realization of this very lucrative business project, made possible by the world crisis—never in history have foreigners owned an NBA club—is another interesting sports development.
- Mikhail Prokhorov, Onexim Group

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7 comments
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drlarrymitchell
Sep 22, 09 6:22 PM CDT
America is for sale, and everyone in the world knows it except for its citizens. Reply
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+4
IN RESPONSE:
pete_ess
Sep 23, 09 3:46 AM CDT
Wheels turn. America pillaged the Middle East, Central America and Africa for their oil (for just one example). Now filthy rich Russians who stole Russian taxpayers assets WITH THE VERY ACTIVE HELP OF AMERICAN ECONOMISTS are buying up America. Soon you'll be going to Chinese banks for loans and to Indian landowners to buy your retirement cottage. WHAT GOES AROUND COMES AROUND, America. Empires fall (and that whistling sound you can hear is YOURS falling. Now).
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+2
Collusive
Sep 22, 09 6:24 PM CDT
"Fuckin' russians wuanna come ova 'ere wit there pale skin and un-gelled hair? Noooo way. No thank you." Reply
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-1
youngblood
Sep 22, 09 6:27 PM CDT
Hey it's only Jersey, let them have Jersey! Reply
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+2
IN RESPONSE:
sysco9
Sep 22, 09 9:34 PM CDT
+1
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+2

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