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May 10, 2010
Clock ticking on Nets' renewal
Bergen Record
by Al Iannazzone
With Prokhorov worth roughly $17 billion, the Nets won’t cut corners or use players as marketing tools, as they have in recent years. It doubtful any Nets will deliver pizzas, as Courtney Lee did for a promotion during this dismal 12-70 season. The focus will return to basketball and winning.
"They’re going to be one of the best organizations in the league," an NBA executive said.
Prokohorov, who made his fortune in precious metals, will own 80 percent of the Nets and 45 percent of the Brooklyn arena project. Rep. Bill Pascrell Jr., D-Paterson, tried blocking the sale, claiming Prokhorov’s business dealings with Zimbabwe violated U.S. sanctions. The NBA called Pascrell "misinformed."
The holdup has been clearing the Brooklyn site, which was accomplished Friday, all but paving the way for Prokhorov to try to do for the Nets what he did in Russia last decade.
NoLandGrab: "Misinformed?" The NBA's so-called "vetting" process appears to consist of making sure that the owner of the Nets is anyone other than Bruce Ratner. Prokhorov, who "made his fortune in precious metals," also does business in Zimbabwe, which appears intent on selling uranium to our good friends Iran. From The Guardian:
"Be also assured, comrade president Ahmadinejad, of Zimbabwe's continuous support of Iran's just cause on the nuclear issue," Zimbabwe's president, Robert Mugabe, pledged last week. The prospect that Iran had secured exclusive uranium rights in Zimbabwe for its nuclear programme emerged following Mugabe's comments.
And what person doing business in Zimbabwe has more expertise in mining than the soon-to-be Nets owner? Vet that, David Stern.
Posted by eric at May 10, 2010 10:02 AM