Prokhorov Meeting with Thorn, Yormark at All-Star Break
by Net Income on Jan 30, 2010 11:49 PM EST
in NetsDaily Blog
3 comments
Beat writers have been tracking the progress of the Nets sale and although there's nothing definitive on when the NBA Board of Governors will approve Mikhail Prokhorov as owner--or whether that's the final step to put him in charge, it looks like the first planning meetings on the team's future will take place during All-Star Weekend, Feb 12-14. Rod Thorn and Brett Yormark will participate. The two first met Prokhrov in October. Among the issues: whether Thorn will continue as president of basketball operations.
From Fred Kerber, New York Post, February 1:
Incoming owner, Russian billionaire Mikhail Prokhorov, will meet with team president Rod Thorn and CEO Brett Yormark at All-Star Weekend in Dallas to discuss the state of the team and future plans. Still, there is no set date for Prokhorov's takeover. He still needs Board of Governors approval and nothing has been determined for a date. It might come All-Star Weekend. A league source said if the vote were planned then, it likely would be common knowledge but that's not the case. Prokhorov also must be granted possession of land for Brooklyn site by New York State.
From Dave D'Alessandro, Star Ledger, January 29:
The Nets organization is operating under the premise that the NBA Board of Governors will officially ratify Mikhail Prokhorov’s purchase of the team during All-Star Weekend in Dallas. Also that weekend, Prokhorov has his first planning meeting scheduled with CEO Brett Yormark and president Rod Thorn, according to an official who is not authorized to speak for the team.
From Mitch Lawrence, New York Daily News, January 30:
Once Prokhorov is officially approved in a vote of owners that will likely come in March, he's going to want to make a splash, according to an ownership source. Incidentally, Prokhorov will get his first taste of an NBA showcase event when he attends the All-Star Game next month in Dallas.
From Fred Kerber, New York Post, January 28:
Although unlikely, the Board of Governors could vote on Mikhail Prokhorov at the All-Star Game, a league source said, but a spokesman for the Russian billionaire said "no specific date" is down for his taking over the team.
From Dave D'Alessandro, Nets Blast, January 28:
Only the oligarch knows for sure, and Thorn won’t meet with him for another few weeks -- whether it’s before or after the Board of Governors vote depends on whom you consult. Right now, the final transfer is being held up by two things -- lawyers and paperwork -- but there is a meeting scheduled with Thorn and Brett Yormark before or during All-Star Weekend.
From Al Iannazzone, The Record, January 27:
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.
0 recs |
3 comments
|
Email
Print
Comments
This all gets to the question of who has to be present to get this over with? Do the owners vote privately with a secret ballot and when?
You forgot to mention the mandatory meeting with Mark Cuban, so he can practice his Russian!
Apparently, even if Proky is approved, he won’t be Majority Owner until more paperwork is signed, which Proky won’t do until no uncertainties remain with Barclays – namely the condemnation and leveling of ground zero. I suppose Nets can give Prokhorov some other Title in the Interim, before he signs off on the Nets future.
Once Prokhorov is approved the DDDB group would have less grounds to fight on, according to their own statements that Barclays is conditional on his approval by NBA.
Therefore, everything would fall in place nicely if the NBA does indeed give their approval.
by Jerry25 on Jan 31, 2010 2:26 AM EST reply actions
The owners are the Board of Governors. As noted many times, Prokhorov will need the votes of 23 of the 30 owners. There’s no need for a secret ballot. He has already met with the owners back in October. He has told a Russian website he has been surprised at the “almost unanimous” support he has received. The background check was completed in early December, David Stern said, without any problems.
The NBA DESPERATELY needs rich owners. Many small franchises are in financial duress. There was never any doubt he was going to be approved…never.
The other issues are noted in Al Iannazzone’s article, excerpted above.
by NetIncome on Jan 31, 2010 8:10 AM EST reply actions
Will Proko be flying in some Russian “dancers” and “students” to entertain Brett and Rod?
by Reality Check on Feb 1, 2010 12:14 PM EST reply actions
Comments For This Post Are Closed
Secondary Sidebar
User Tools
FanPosts
Community blog posts and discussion.
Certain photos copyright © 2010 by Associated Press or Getty Images. Any commercial use or distribution without the express written consent of Associated Press and Getty Images is strictly prohibited.
