New Nyets Owner Approved To Begin Giving Out False Hope

Mikhail Prokhorov

The NBA's Board of Governors has approved Russian billionaire Mikhail Prokhorov's purchase of the Brooklyn-bound NJ Nets. He becomes the first non-North American NBA owner, with 80 percent of the team and 45 percent of the Barclay Center under his control. In a statement released today, he oozed optimism about the future of last season's worst team in basketball: “For those who are already fans of the Nets and the NBA, I intend to give you plenty to cheer about.”

But the person who is happiest to see the Nets deal go through is developer Bruce Ratner, who bought the team in the fall of 2004 for $300 million. Ratner admitted in a recent interview with the WSJ that he lost between $25-$30 million each season on the team, and was never really a basketball fan to begin with: "I was never one to puff my chest out with some big ego about being the owner of a basketball team." The only reason he bought the team was to facilitate the development and creation of Atlantic Yards project, which he had begun building over a decade before.

However, some local pols are unhappy over the allegations that Prokhorov had monetary ties to Zimbabwe President Robert Mugabe, and have called for a delay on the approval: “The public benefits of Atlantic Yards will be hollow if they are achieved with the help of profits gained through fraudulent schemes or a regime that holds no regard for human rights,” read the letter to NBA Commissioner David Stern, signed by Council members Brad Lander (D-Park Slope) and Letitia James (D-Fort Greene) and three state Assembly members.

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By Ben Yakas in News on May 12, 2010 2:18 PM

Comments [rss]

soxinthecity

Hey Mikhail, I hear there is a hockey team for sale on Long Island. Hurry up, before the Wilpons beat you to them.

whitecastlerock

The Nets suck in New Jersey and will continue to suck in Brooklyn. This team has never won anything in the NBA-zero, zip, nada. They contended for a few years about 7,8 years ago. They got rid of the best player in the history of their franchise, Dr J. They should have moved the team to Kansas City or Las Vegas...

soxinthecity

The Bulls also sucked for forever before they drafted Michael Jordan. The best way to become an elite team is to completely suck until you can draft a superstar or two with lottery picks. A team with lottery picks and the richest owner in the league is probably not going to suck for long.

How Ya Doin

Yo fuck your cynicism. The Nets already have some amazingly talented players and they'll be a force in the east if not next year then very soon.

Kojak

You mean the same amazingly talented players that got them 12 Wins & 70 Losses this past season, 4th worst in NBA History?

They'd have to pay me to see that sorry excuse for a team. Hopefully this guy will pump money into the Nets and clean house.

How Ya Doin

Yea, that's the team I mean. Devin Harris will be a nice complement to either John Wall or Evan Turner, Brook Lopez is among the best centers in the league in 2nd NBA season, Terrence Williams is a great 6th man. So with a few additions they oughta be playoff-bound in no time. Just because they were historically bad last year doesn't mean it'll stay the same forever. They're not the Knicks, with R-Tard owner Dolan running the show.