Good news for the Nets: NBA COO Adam Silver said today that the league would likely welcome new Nets owner and Russian billionaire Mikhail Prokhorov into the fold next month.
Speaking at a press conference to discuss the Nets move to the Prudential Center in Newark, Silver said the league would confirm Prokhorov as the new Nets owner “probably sometime in early to mid-April.”
See video of the press conference here.
That timing would be great for the Nets, who have $23.3 million to spend on this year’s phenomenal free-agent class, which could potentially include you-know-who.
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NBA Exec: League Likely To Confirm New Nets Owner Prokhorov Next Month
2
Mar 5
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Why to delay?
This is BAD News for Nets.
Prokhorov was originally rumored to be approved anywhere from the end of December to the All Star Game. Just a few weeks ago he announced it would be right after the Olympics. Ground breaking is Thursday, without Proky being approved. Nets needed a new coach 2 months ago. Now they won’t have one in time to avoid a 9 win season.
Is it Proky or the NBA who is delaying? Is the NBA trying to approved Jordan at the same time??
Also, could the media stop implying that LeBron will be a Free Agent up for grabs. Everyone knows he is staying in Cleveland for an extra year. Even if he does become a free agent in order to be wined and dined, he will still sign a short term contract with Cleveland.
by jerry25 on Mar 5, 2010 4:35 PM EST reply actions
Wrong Info.
In another linked story by Andrew Sharp, that isn’t allowing comments it was incorrectly reported that Prokhorov bought the Nets and 45% control of Barclays for a total of $200 million.
Actually he has agreed to spend much more than that, including the present and projected team debt and a significant amount towards Barclays. Someone else could site the correct figures. It still isn’t clear who bought the remaining non-tax exempt bonds for Barclays.
by jerry25 on Mar 5, 2010 4:42 PM EST reply actions
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