MOSCOW -- Russia's richest man, Mikhail Prokhorov, has made a takeover bid for the New Jersey Nets, the tycoon confirmed on his blog on Tuesday.
Prokhorov, a former nickel mining baron, boasts that if his move is successful, it would be the first time a National Basketball Association club would come under foreign control.
Prokhorov's proposals, sent to existing Nets shareholders over the weekend, would see his Onexim group provide a loan to build a substantial part of a new arena, according to a post on his Web site.
Onexim would also receive a controlling stake of the NBA team for a "symbolic" price, the post said. Sources close to the billionaire have previously estimated the overall value of any deal at $700 million.

I wonder what David Stern thinks about this? I wonder what Mark Cuban thinks of it? What about Jay-Z?  I would think if Prokhorov purchased the team chances of a quicker move to Brooklyn increase and chances of Lebron on the Nets also increase.

JR 9/23/2009 01:08:00 AM Edit
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