Mikhail Prokhorov Offers To Buy New Jersey Nets; Russian Billionaire Would Pay For Barclays Center

The richest man in Russia, Mikhail Prokhorov, has offered to take the New Jersey Nets off the hands of developer Bruce Ratner and other team shareholders.

The 6'7" Russian basketball fansent Ratner a letter over the weekend "offering a 'symbolic amount' for the Nets in exchange for financing the construction of a new arena in New York." Under the terms of the deal, Prokhorov would loan Ratner enough money to get the troubled Barclays Center built and receive a controlling share of the team.

Prokhrov, a former nickel baron worth $9.5 billion, blogged about the proposed deal on his Livejournal page (Develop Don't Destroy Brooklyn ran the post through Google translator for a rough English version).

If Prokhov were successful in taking over the team, he would become the first foreigner to own an NBA team.

Comments

[VINSTERDUDE]

04:10 PM on 09/23/2009

all hail the NEW JERSEY NYETS!

[loki]

02:05 PM on 09/23/2009

big league money laundry by big money men.

[CaptainHowdy2]

01:28 PM on 09/23/2009

Looks like a sandwich...

[NoMoreBailOut]

01:18 PM on 09/23/2009

The fed is playing in re inflating the housing & finance bubble while the public willingly lets it happen (not that we could stop if if we wanted to). We're all too busy getting rich with stocks while the Wall Street crooks resume their treachery knowing they will get bailed out yet again.

good articles 4 slow news day; http://www.iamned.com

The lack of any finance or heath care reform is appalling

[Stilts9]

01:06 PM on 09/23/2009

How did this guy get so freaking rich?

[loki]

02:10 PM on 09/23/2009

human traffiking, drugs, counterfeit goods. You know the same why they do it here.

[Stilts9]

09:15 PM on 09/23/2009

I was thinking the same.

[loki]

02:12 PM on 09/23/2009

actually , if you can believe anything on Wikipedia, Gold.
http://en.wikipedia.org/wiki/Mikhail_Prokhorov

[SamKnause]

09:23 AM on 09/23/2009

Just sell the entire country and be done with it. The greed of the top few in this country, is going to bite us in the a$$ big time.

[mudbones]

10:36 AM on 09/23/2009

I was thinking the same thing.

[kujobu]

06:32 AM on 09/23/2009

This sounds hopeful. Don't think Bloomberg's folly will happen otherwise. Not to stereotype, but any Russian billionaire must have done some sort of arm twisting during his rise to oligarch. Would love to be in the meeting when Ratner asks for more money because of cost overruns. Looking forward to the new menu at the arena too. First sports arena to sell borscht and pirozhki. I say let the deal go thru just for the food!

[Tom95134]

09:51 PM on 09/22/2009

Kind of reminds me of the shopping spree that the Japanese went on. Remember the book, "Hit & Run" about Sony's purchase of Columbia Pictures and how they got hosed by two smart operators they put in charge? The only difference is the Japanese will quietly take their lumps and wait for the asset to turn around (as Columbia, now SPE, has) whereas the Russians will likely send the offenders off to a nice summer camp in Siberia (and leave thenm there for the winter).

[politicsofeight]

08:51 PM on 09/22/2009

Moore, Tallibi, and Krugman are right. We need more people like them in high office

If no justice is served the American People are going to get more restless, and the next time something happens.....there could be real UNREST! WE have to hold people accountable for their actions.

hat tip to: http://www.iamned.com

Ignorance = Negligence....... They knew what was going on the whole time, all the while padding their pockets. The U.S. crony-Capitalist justice system is a f**king joke. There must be some way we can outsource for justice against these criminals.

talibi is right

[CaptainHowdy2]

01:31 PM on 09/23/2009

Krugman was a part of the problem.

[SoCalNick]

08:43 PM on 09/22/2009

Am I getting too old ( Still Sub 50) or am I the only one who thinks this is WRONG!!!

Can ANY American afford ( yes I know they can but they could care less about American Icons) This team or has EVERYTHING that is left here for sale by our rich so they can just get richer...to hell with our traditions and customs.

[mudbones]

10:37 AM on 09/23/2009

I'm in the same boat. Too much of this country is being sold offshore for the almighty dollar.

[CaptainHowdy2]

01:30 PM on 09/23/2009

"The Capitalists will sell us the rope with which we will hang them."
- Vladimir Ilyich Lenin

[loki]

02:09 PM on 09/23/2009

and they will pay 3rd world countries citizens 10 cents a day to make the rope.
spend millions to market it to us as the next greatest and latest thing we must have, and sell it to us for $140 a foot..

Now that is the epitome of Ivy Greed Capitalism, USA style!

[LeeCalif]

08:38 PM on 09/22/2009

No ! No !

Take the chargers, pleeeeeeeeeeeeze !!!

[SoCalNick]

08:44 PM on 09/22/2009

LOL I want the Chargers to go away REALLY Bad but not to a Foreign owner. Play like crap but want the WORLD handed to them.

[EminemsRevenge]

08:36 PM on 09/22/2009

Having worked with Russians, who are the ONLY real Nets fans I know of since they got rid of Doctor J...i'm sure Prokhorov is not only a devout fan, but he'll probably be willing to spend some Yankees money to make them a contender...yeah, HE'LL find a way to circumvent the salary cap!

[Sing Out and Slap Iron]

06:41 PM on 09/22/2009

Wasn't Jay-Z and his associates going to buy this team and move it to Brooklyn about 10 years ago?

[ImissBush]

06:23 PM on 09/22/2009

b glad sum1 wants them

[rottnkid]

06:11 PM on 09/22/2009

Do Americans own anything???!!!!!

[CaptainHowdy2]

01:29 PM on 09/23/2009

Debt...