Thursday, September 24, 2009

Richest Russian’s Newest Toy: An N.B.A. Team


from the Times:

A Russian tycoon with a longstanding passion for basketball agreed to a $200 million deal on Wednesday that would make him the principal owner of the New Jersey Nets and a key investor in the team's proposed new home in Brooklyn.


Mikhail D. Prokhorov, who is 44 years old, stands as tall as a basketball forward and is widely considered the richest man in Russia, would become the first overseas owner of a National Basketball Association team.

I guess the other oligarchs had bought all the soccer teams in Britain, so Misha needed a new hobby.


The article traces Prokhorov's fortune back to the 1980s illicit "jean trade" days, though his wealth is due mostly to ownership of Norilsk, the world's largest nickel mining company, which also happens to be the world's largest palladium and one of the largest platinum producers.

No comments: