Wednesday, May 1, 2013

Mikhail Prokhorov and the Brooklyn Nets

Prokhorov is a self-made Russian multibillionaire, politician, and owner of the American basketball team, the Brooklyn Nets. He was known as one of Russia's leading industrialists in the precious metals sector. Prokhorov even declared a new political party in June 2012, entitled the "Party of Civic Platform." He is the 7th richest man from Russia and the 58th richest man in the world.

In September 2009, he made an offer to buy a controlling interest in the New Jersey Nets. On  May 11th, 2010, the NBA approved the sale of the Nets to Prokhorov, making him majority owner of the team with an 80% stake, as well as a 45% interest in their new Barclays Center. He is also the first non-North American NBA owner.


On April 30, 2012, the Nets moved to Brooklyn, rebranding themselves as the Brooklyn Nets. The team had the second highest payroll for the 2012/13 season, and are currently in the playoffs against the Chicago Bulls. With a 2-3 record, it will be interesting to see if this Russian owned team will make it to the next round.

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