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Prokhorov In Line To Be First Foreign NBA Owner

The NBA appears set to welcome its first foreign owner as the Nets agree to sell a majority interest in the team to Russia-based Onexim Group, led by the country's richest man, Mikhail Prokhorov. The partnership will see Onexim assume 80% of the Nets, while also supplying Bruce Ratner with some much-needed financial backing for his floundering Atlantic Yards development. The sale still requires approval from the NBA BOG, and you can bet the owners will pay special attention to Prokhorov, the "bachelor billionaire, with a penchant for lavish parties." It could ultimately be tough for league officials to turn away a foreign owner with deep pockets who seems to be the bridge that will finally bring the Nets to Brooklyn and Barclays Center. With a net worth estimated around $9.5B, Prokhorov may have "more dough than the other 29 owners combined" and could push spending in the NBA to a whole new level.