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LeBronmeter News » Stern Gushes over Russian Billionaire - Nets New Ownership a Formality

September 28, 2009

Stern Gushes over Russian Billionaire - Nets New Ownership a Formality

Filed under: LeBron — admin @ 9:28 am

By John Schuhmann, NBA.com
Posted Oct 22 2009 10:53AM

In the space of a day, the fortunes of the New Jersey Nets changed dramatically.

With an agreement for Russian oligarch Mikhail Prokhorov to purchase controlling interest of the team, the Nets have gone from the franchise with the biggest debt in the league to the franchise with the richest owner (or second richest, depending on how Paul Allen’s investments are doing these days).

With Prokhorov in charge, close to $30 million in cap space (and perhaps the Barclays Center under construction), New Jersey’s future should be brighter. The young core needs another star, and the Nets should have the means to bring one (or two) to Brooklyn


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