NBA Will Let Prokhorov Move Nets Ownership Structure To Russia

Nets Owner Mikhail Prokhorov said that he has "received permission from the NBA to relocate the team's ownership vehicle to Russia," which would "allow him to comply with a new law" passed by the Kremlin in May. The law states that Russians "seeking top government posts can't hold bank accounts or direct shareholdings in companies abroad." Prokhorov has received "similar permission" to relocate the Barclays Center ownership structure. The move "isn't likely to have a significant impact on the operations of the Nets or the arena" (WALL STREET JOURNAL, 6/13).