Russian tycoon Mikhail Prokhorov will buy NetsPosted by Inside Hoops
The New Jersey Nets struggle to attract fans and face many issues as they attempt to build a new basketball arena in Brooklyn and relocate the team. And now the AP reports:
Russian tycoon Mikhail Prokhorov says in his personal blog that he has made an offer to buy the New Jersey Nets.
Prokhorov, considered Russia’s richest man, said Tuesday on his blog that he sent team shareholders an offer over the weekend. Under the proposal, Prokhorov’s holding company Onexim would obtain a controlling share in the Nets in return for loaning the money to build a new arena.
If the team is going to be sold I expect it would happen relatively sooner rather than later.