Nets Will Have New Owner; FCR Will Have New AY Partner
Wow! Russia’s richest man, Mikhail Prokhorov, announced a deal with Forest City Ratner and the Nets that will make Prokhorov’s Onexim Group the majority owner of the Nets and an Atlantic Yards development partner. Details from the AP: “According to the agreement, entities to be formed by Onexim Group will invest $200 million and make…
Wow! Russia’s richest man, Mikhail Prokhorov, announced a deal with Forest City Ratner and the Nets that will make Prokhorov’s Onexim Group the majority owner of the Nets and an Atlantic Yards development partner. Details from the AP: “According to the agreement, entities to be formed by Onexim Group will invest $200 million and make certain funding commitments to acquire 80 percent of the NBA team, 45 percent of the arena project and the right to purchase up to 20 percent of the Atlantic Yards Development Company, which will develop the non-arena real estate.” The deal still needs to be approved by the NBA. AY Report has details on Develop Don’t Destroy’s reaction to the news.
NJ Nets, Russia’s richest man agree to deal [AP via Yahoo]
Russian Tycoon Investing $200M to Bridge Financing Gap [AY Report]
NBA and Treasury Department Must Vet Billionaire [DDDB]
Photo from Impactlab
If I had money that needed, shall we say, a little cleaning up, a suite of cash-heavy businesses like parking and concessions could be very attractive.
Those Red uniforms were pretty omnious….
From Wikipedia: The ‘Red Army’ name refers to the traditional color of the workers’ movement. This represents, symbolically, the blood shed by the working class in its struggling against capitalism, and the belief that all people are equal.
…sums up the yahoos in Brooklyn perfectly.
He has a creepy ‘widow’s peak’ look like he got a bad ‘shape up’ from the barber
“What does youth have to do with wealth?!”
The more money one has, the more youths he can buy.
What does youth have to do with wealth?!
He’s kind of young to be so rich.
I see nothing good coming from this.
Two words: Russian cheerleaders!
….I bet the NBA marketing execs are salivating. At least now they’ll have their own identity. Playing opposite the Knicks in NY and shaking the NJ dust off would have been tough to do.
Well the Mariners for sure were owned by Nintendo at one time.
Arena=D O N E – D E A L
Now maybe someone in the “opposition” will wake up and try to help make sure we get the best arena (no parking) instead of fighting for everything – and get nothing.