NBA approves sale of Nets to Russian billionaire

(AP) - The NBA's board of governors has approved thesale of the New Jersey Nets to Russian billionaire MikhailProkhorov. Prokhorov becomes the league's first owner from outside NorthAmerica. Details of Tuesday's vote were not provided. The purchasehad to be approved by three-fourths of the NBA's owners. Russia's richest man agreed to buy 80 percent of the Nets and 45percent of an arena project in Brooklyn late last year. Finalapproval of the sale was delayed until the state of New York hadtaken over all the land seized under eminent domain at the site ofthe team's Barclays Center in Brooklyn. The Nets hope Prokhorov's wealth will help them quickly turnaround from a 12-70 season.

sorry to interrupt
your first 20 are free
Access to News 12 is free for Optimum, Comcast®, Spectrum Networks® and Service ElectricSM customers.
Please enjoy 20 complimentary views of articles, photos, and videos during the next 30 days.
you have reached your 20 view limit
Access to News 12 is free for Optimum, Comcast®, Spectrum Networks® and Service ElectricSM customers.
Please login or create an account to continue enjoying News12.
Our sign-up page is undergoing maintenance and is not currently available. However, you will be given direct access to news12.com while we complete our upgrade.
When we are back up and running you will be prompted at that time to complete your sign in. Until then, enjoy the local news, weather, traffic and more that's "as local as local news gets."