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January 28, 2010
Nets notes: Mikhail Prokhorov must wait for majority ownership
Bergen Record
Mikhail Prokhorov is expected to take over majority ownership of the Nets in the first quarter of 2010, but it probably won’t be until the very end of the first quarter.
Multiple sources said the Russian billionaire may not take control of the team from Bruce Ratner until March. It’s possible it could go into the second quarter, early April, depending on when everyone and everything is cleared from the Atlantic Yards site in Brooklyn - the "vacant possessions" condition that needs to be met for the sale to go through.
Prokhorov also needs to be approved by the NBA’s Board of Governors, which could happen next month.
NoLandGrab: Given the history of Atlantic Yards — remember that the Nets were supposed to open the 2006-2007 season in Broolyn — we have a feeling Mr. Prokhorov may be waiting a lot longer than that.
Also...
NetsDaily, Prokhorov Won’t Become Owner Til Spring
Posted by eric at January 28, 2010 11:44 AM