Prokhorov’s $200 Million Purchase of Nets Gets NBA Approval
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Mikhail Prokhorov became the second foreign team owner in U.S. professional sports when the Russian billionaire’s $200 million purchase of the New Jersey Nets was approved by the National Basketball Association.
Prokhorov’s first official act as the Nets’ majority owner will likely come May 18, when the NBA holds its annual draft lottery, giving the team that threatened the league record for fewest wins a chance to restock with a top college player such as guard John Wall of the University of Kentucky.