Congressman Asks Treasury to Probe Prokhorov's Ties to Zimbabwe
by Net Income on Apr 11, 2010 8:06 AM EDT
in Brooklyn
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A New Jersey congressman who has long objected to the Nets' move to Brooklyn wants the Treasury Department to investigate the ties between one of Mikhail Prokhorov's companies and the government of Zimbabwe, an African nation under heavy US economic and financial sanctions.
Rep. William Pascrell, D-NJ, who represents parts of Bergen and Passaic counties, told the New York Post that Renaissance Capital, an investment bank that Prokhorov purchased a year ago, has interests in the Zimbabwean stock exchange, banks, a cellphone company, mining and a private big-game reserve. It also was a financial sponsor of a 2009 economic forum in the Zimbabwean capital that provided foreign investors special access to government ministers.
Experts told the Post both are violations of the sanctions. Zimbabwe is viewed as one of the world's worst human rights violators. A spokesman for Renaissance Capital in Moscow told The Post that the question of Prokhorov's dealings in Zimbabwe did not come up during the NBA security checks.
- Tycoon's tyrant ties threaten Nets deal - Isabel Vincent & Melissa Klein - New York Post
- Pol whistles Nets owner - Jeremy Olshan - New York Post
- Prokhorov's business dealings in pariah Zimbabwe provoke requested federal investigation - Norman Oder - Atlantic Yards Report
- N.J. lawmaker seeks investigation into Prokhorov's business ties - Dave D'Alessandro - Star-Ledger
- Sanction-busting Investigation Could Threaten Nets Deal, Atlantic Yards - Julia - Village Voice
- The NBA's Dirty Partner - Toby Barlow - Huffington Post
- Despite New Concerns, NBA Maintains Comfort With Prokhorov's Finances - Tom Ziller - FanHouse
- The rhetoric of contempt, from Rwanda to NetsDaily; who's in charge? - Norman Oder - Atlantic Yards Report
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Proverbial "pot calling the kettle"
If we denied doing business with every person that has questionable ties to some country of faction there of, nothing would ever get done. Isn’t this what our government does everyday? I thought the saying was: “politics makes strange bedfellows.” Let’s get on with it. There have been enough delays!
We will see what happens...
Proky does need to comply with the laws of the US if he buys the Nets. DG is still scum either way.
by rundmc00 on Apr 11, 2010 8:37 AM EDT via mobile up reply actions
What a biased author of this article. Sounds like they are as impartial as Norman Odor. There is no reason at this time to say it threatens Nets deal unless someone in the NBA says so.
This story is about politics. And there was no attempt to get both sides of the story. Bad Journalism. Prokhorov isn’t an American Citizen or trying to become one. The sanctions were by the USA, not Russia. I’ll bet the author could get dirt on the Congressman’s campaign contributions if they wanted to.
And the Author should get the facts straight about the NBA approval statement.
On Thursday, Joel Litvan representing the NBA said the Board will vote on Prokhorov’s purchase of the Nets
“once a firm date is set for the State of New York to take full possession of the arena site, which the team expect to occur in the near future”
Anotherwords, the NBA will vote when the firm date is set, not when full possession occurs. That could still be met this week.
In the worst case scenario, Proky could agree in writing to sell some of those holdings in question. They are minor to him. He didn’t break any Russian laws to get those holdings. This dispute can be settled privately and won’t delay the NBA process. Waiting for the Judge to “set a firm date” is what is causing the delay.
Jerry
I believe the rule is that to own a US business you must not have dealings with sanctioned countries. If so, Proky will have to comply to own the Nets.
by rundmc00 on Apr 11, 2010 8:54 AM EDT via mobile up reply actions
I'm sure this would be minor to him to divest of a minor holding or its operations in Zimbabwe. He has sold a $10 billion investment to remove suspicion before. This is chicken feed. He will probably make a profit too.
David Stern is a dictator in his own rights. He will know how to handle this quietly.
The Authors of this article were one-sided and viscous. They are probably all working together.
It's not a minor investment
he paid $500 million for 51% of Renaissance Capital and they made Africa one of their top priorities after the purchase.
so the Zimbabwe portion is a small portion of $500 million, which is a small portion of possibly $18 billion in legitimate assests.
Maybe luck will be on his side again, since after his $10 billion sale he came out on top.
What is his Yacht, that he doesn’t seem to like, worth?
BTW, If he controls 51% of Renaissance Capital, then he should have the power to modify how they do business, just to satisfy the USA/NBA. As long as they get it done quickly, they should be able to avoid any problems and David Stern will be boasting how they worked everything out.
I see that since I mentioned this AM, that it smells of a "Norman Odor Story", he now has in his own contibution.
This is all about trying to stop Atlantic Yards, and the clock is at 11:59 and 50 secs.
Even Odor is fairer that the Post reporters in his story.
From Odor’s remarks, this is fairly complex, and the Treasury Dept. has to determine first if there is any violation.
Proky could play it safe anyway, just as he did with the French incident.
Regarding vacating the Atlantic Yards site, Odor writes that the Attorney for the Condemnees is waiting for the Condemnation court to set a date and also for a good faith advanced payment. That shouldn’t be too difficult.
It's not good
because now a lot of other reporters will look into it. It’s not going away, not this one. He got a pass from 60 Minutes and a number of news organizations took note of that.
I agree, but...
At least some of those other reporters will write/report for media outlets less xenophobic than the New York Post and it’s affiliated “fair and balanced” network.
Oh well
Now we can really expect this to be delay or not happen at all
by killa kadafi191 on Apr 11, 2010 9:18 AM EDT reply actions
Yeah...probably McDonalds's bags
Or if that isn’t available how about a Domino’s pizza box or a Haier television box; anything to promote your business, ha!!! It’s all about the $$$$$$.
Sharpton is on record supporting AY
so unless he’s at that bar saying Proky has no involvement with the Zimbabwean gov’t (which I HIGHLY doubt), your jab makes no sense.
That congressman should worry about his reelection…oh wait…, that is exactly what he is doing, Since people in his constituency are upset about the Nets leaving, he is trying to do something to catch their attention. Beat it, Sir, we have a lot more problems to worry about. Christie is cutting $1.1 BILLION from education, shouldn’t you be worrying about Christie instead?
And so said the old man!
What a swell guy
Really sounds like he is on the up and up and we should be really proud that this could be the owner of the team. What an ABSOLUTE TRAVESTY AND NIGHTMARE. If the NBA has any decency (not likely) they will really look into this man and how he happened upon his billions of dollars before letting him buy into their league. It is time to stop the madness once and for all! Take Ratner, Yormark and Prokorov and get them all out of here! Hopefully that would mean a permanent move to Newark and if not so be it. Anyhting would be better than having this team run by all these crooks.
I resepct your sentiments. You just sound a little naieve about things though. Don’t think that there aren’t any American business men making profits out of Zimbabwe and doing business there depite the sanctions. Most business men could be called Crooks. Profits comes before anything else, why do you think our society is in the mess it’s in?
I am not disputing people will try and make money at any costs, and i’m sure there are some pretty crooked owners in pro sports. This guy seems to have a closet full of skeletons, the size of one of his mansions. It is time the NBA conducts a real investigation – if that were to happen maybe this ridiculous proposal to build a billion dollar arena in Brooklyn during a financial crisis will finally go away. There is after all, a nearly brand new arena that the Nets have done nothing but brag about for the past few months waiting for them to call it home in their home state.
Dont Lie
You dont want the Nets to leave NJ. It it was legal and Mother Teresa was the owner you would have a problem. The NBA has an owner who runs slum housing and is a racist. So i am sure he will be fine because money talks and everything else get in line. I would guess a nice campaign donation will make this go away.
Maybe Nets fans can take out a group loan...
and sign us some low cost free agents come July.
I figure 36 x $100 = $3600.00.
Who can we sign for $3200.00? … We will need the extra $400.00 for a coach.
Read the Odor article carefully, Issac and other phony Idealists
The attorney for the condemnees is waiting for a “good faith advanced payment”.
Why should ESDC pay them, unless they guarantee that they will promptly leave?
ITS ALL ABOUT MONEY. THEY WANT TO GET PAID BEFORE THEY LEAVE.
Of course they took a chance when they were offer 2x what their properties were worth.
Now their Title is owned by the ESDC and they still want to have it their way.
The Condemnation judge has done everything except set a Firm date.
Has anyone considered the possibility
that the decision to delay Prokhorov’s final approval as owner has more to do with this new scandal than any last minute holdouts in Brooklyn?
Doubt it
I was told three weeks ago by a Nets official (fairly high ranking) that the vacant possession issue would not be resolved by April 15 and that he anticipated the deal wouldnt close til late April and might even stretch into May.
We reported that.
http://www.netsdaily.com/2010/3/20/1382060/ownership-transfer-could-slip-to
I was surprised to later see all the beat reporters say it would be April 15-16. Didn’t make much sense to me since the agreement was quite clear that the transfer doesn’t happen until after the premises are vacated.
but based on Thursday's statement they are prepared to approve Proky when that date for transfer is set in stone, which could be some time before the premises are physically vacated.
I guess as long as they felt confident that nothing could go wrong, they were willing to approve.
Now they will also have to discuss this present issue with Proky, and hope he takes some action.
The question then becomes
why wasn’t this probed earlier by the NBA? It isn’t a good enough excuse to say it was an oversight when the NBA has access to global resources that should have picked up on this immediately. And even if nothing comes of an investigation, 1) how long does the investigation hold up Proky’s approval from the league and 2) does the league now want it’s name associated in any way with whom Parade Magazine voted the world’s worst dictator (Mugabe)?
Easy
I doubt the NBA looks very hard at sanctions. They’re looking at character issues, particularly related to the issues that matter to the integrity of the game: gambling, organized crime, criminal past, etc. They also look at financial capability.
Maybe it's a moot point
but perhaps they should have paid more attention to Proky’s international ties, especially with the prospect of the first non North American owner ready to take over. And that is part of my point; the same tried and true practices no longer apply when the specter of foreign ownership looms large.
Stern could just say that they don't get involved with Politics, which is what this is. No law has been broken up to this point.
Lets just wait for Proky to address this issue (and possibly bring forth a remedy) before jumping to conclusions as the NY Post has. The ONLY concern is if Proky refuses to cooperate.
This is one of the times that the NY Post and Huffington Post are on the same side.
I have read the agreement
It is quite clear that the property in the arena footprint must be vacated before the arena lease can be drawn and sent to the arena holding company. I read your interpretation but I disagree with it.
The judge has great latitude in ordering evictions…and until the state has possession, nothing can happen with the lease. Without the lease, the sale of the team can’t be completed.
The Post story is based on Pascrell’s information. Maybe it’s accurate…maybe it’s not. It’s going to take a lot to undermine this deal. The NBA has a huge stake in this.
Why wouldn't Pascrell's info be accurate?
It makes no sense to lie, no matter how many votes he’s trying to garner in the Mid-terms.
To lie like this on the nat'l stage
I’m as cynical about politicians as the next person, but lying about something like this (which is BIG) is a really bad political move. Sorry, I guess I haven’t swallowed that pill yet.
you are not as cynical as the next guy
the next guy would look at a politician’s comments and understand that politicians are the most skilled people in this society at spinning things to make them larger or smaller than they are, depending on the need.
This is, however, a big step for Pascrell. Last time, he demanded something of the NBA, he sent a letter to Daniel Stern, commissioner.
Another salient point to consider
How did the NBA miss this glaring piece of info in their background check of Prokhorov, should it prove to be true? That should have been an immediate red flag, even if it turned out there was nothing to the rumor. Zimbabwe’s gov’t and economy are in shambles, there’s been a history of widespread violence related to elections and regime concerns, and the NBA simply overlooked it? Pascrell may be going after this now in public, but he’s had this Trump Card in his back pocket for a long time. The iron is now hot.
Nets areTruly the Clippers of the East
How patheitc to not even get the sale ofthe team right. Blow this team up or move them in the Federal Witness protection program. How pathetic!
8th alias and on probation
I promise to be kinder and gentler
Probation is a slippery slope
Good god if this doesnt go thru we are doomed!!!!! I am not a proky fan but i love the nets. I know that most billionaires have some shady biz going on somewhere. Thats how the world works.
Not justified at all
You are aware that there are laws against some of this. Dealing against these can land a business owner in jail. There is a reason why such laws were created in the first place, especially when the involve drug lords, terrorists, mafias, and even dicatators. BTW, there are even crimes on mistreating workers especially in outsourcing, which is why such regulations are made. If Proky is found guilty, it will really hurt Ratner in a big way.
by Tal Barzilai on Apr 11, 2010 3:55 PM EDT up reply actions
found guilty!?!
there isn’t even an investigation and you already have his indicted, tried and convicted.
If found then yes
Bear in mind that the US does have laws against this, and I am surprised that you as an American does not know that, while an Israeli-born such as myself does.
by Tal Barzilai on Apr 11, 2010 11:03 PM EDT up reply actions
His point wasn’t so much about existing laws but the fact that you’ve conveniently skipped a number of steps. To be either found guilty or not guilty, Proky would have had to face court proceedings. An initial investigation hasn’t even been undertaken yet, and may not at all.
'The Crossover' - a Nets and Knicks podcast. http://phobos.apple.com/WebObjects/MZStore.woa/wa/viewPodcast?id=268817312
There are probably other probes for Proky
I wouldn’t be surprised if Proky was found to have great business relations with Saddam Hussien. Let’s not forget that the Vladimir Putin didn’t want Russia to fight the Iraq War because of the deals with Iraq. Just hearing relations with Robert Mugabe alone really makes me suspiocous on Proky. For those who don’t know about Mugabe, he rules Zimbabwe with an iron fist, and constantly sends secret police all throughout his country looking for anyone who is still questioning him or not under his control. He should be arrested for having business relations. The comments on that NY Post article are wrong and such probes on Proky should be taken.
unless you have proof of same
I would ask that you restrain yourself. Mugabe has had relations with a lot of foreign governments, including Israel who trained a lot of the security forces for many African dictators.
Can we see your proof first?
This is comming from a person who slams the opposition and gives next to nothing in backing it up.
by Tal Barzilai on Apr 11, 2010 3:56 PM EDT up reply actions
You're notorious
for comparing those you disagree with to Hamas, which you have done repeatedly.
Now, you wouldn’t be surprised if Prokhorov had ties to Saddam Hussein (who is dead). Not a shred of proof.
Why I say that
If you actually know who they are, and have a high IQ such as mine, then you would know what I am talking about. The reason I say that is because just like how there are those gullible to follow a developer like Ratner, there are those who will blindly support a terrorist group such as Hamas. They even have their own version of BUILD known as the Internation Solidarity Movement, who has a history of actually harboring them, which is against international laws. Of course you don’t follow the news to that level, so unless you did, you would always claim that you would have no idea. My main point is that there are always those blinded to the wrong things be it an abuse of eminent domain or even acts of terror.
by Tal Barzilai on Apr 11, 2010 6:50 PM EDT up reply actions
That is awesome
Pick up some chalk and you can outdo Glenn Beck. If people could understand what your point is.
by calling all toasters on Apr 11, 2010 8:27 PM EDT up reply actions
@ rundmc00 – Sports organizations are considered different from other businesses under a special international agreement from back in 1975 or 1976 and their owners do not have to comply with economic sanctions imposed by a country they were not born in.
by diehardNFFLbarnone on Apr 11, 2010 2:08 PM EDT reply actions
Could you clarify?
The issue here seems to be with one of Proky’s subsidiary holdings. Even if Proky (or his Onexim Group) wasn’t born in the U.S., his company still has operations in the U.S. under Renaissance Capital. And I’m sure a U.S. Congressman wouldn’t bring this up unless there is something to it.
Yes, could you provide some evidence or are you making this up?
If you are correct, this issue would end today.
here's the issue
He bought Renaissance Capital in 2008. The Zimbabwe investments preceded his investments…although the conference with Zimbabwean ministers took place afterwards. At least one of his people worked for Renaissance earlier in the decade…and may be part of the management group at Onexim.
My letter to David Stern
“Please indefinitely suspend the approval of Mikhael Prokhorov until all allegations levied against him by NJ Congressmen Bill Pascrell are investigated and he is or isn’t cleared.
I know the league is looking to go global and foreign owners are definitely a part of that. This has to be done the right way though. The right way is NOT to give ownership to someone who might have “sanction-busting” relationships with ROBERT MUGABE of all people. This is a guy who is considered one of the worst dictators on the planet.
I am a huge Nets fan and was excited to have a very rich owner who was going to spend freely. If these allegations are true, I’d rather have the Nets move to Seattle then have Prokhorov as an owner."
You want the Nets to stay in New Jersey
You hope that will happen…and you are willing to believe that this is as it has been reported, that it cries out for an investigation. I am not willing to say yet what is true…I will wait til read or hear other opinions beyond that of a congressman who has an animus to the Nets moving anywhere even Newark.
Interesting that it's Pascrell taking up this fight
as Donald Payne (one of the Congressmen representing Newark) is part of the delegation that was supposed to meet with Mugabe in Zimbabwe recently and was rebuffed. This is a coordinated effort on the part of the NJ Congressional delegation. Having Pascrell level the charges makes it look less partisan than if Payne did it himself. As you correctly point out, Pascrell has opposed a move in the past, and his district includes the Meadowlands, so doing this makes it appear to be a concerted effort. At the end of the day, Pascrell knows the Meadowlands can’t keep the Nets, but at least he can look good by trying to keep the team in-state.
Maybe
You know this isn’t hidden. If you go to the Renaissance Capital site, it shows an office In Harare. We link to the site in the news item.
Exactly!
Which is again why I have to ask how the NBA just ignored this possible SNAFU? If it’s on the site as you say, why did Congressman Pascrell have to come forward with this info? The NBA could have said we think we see a potential issue, investigate it and determine there’s nothing to be concerned about – unless there’s something to be concerned about(?)
@ Morph – You misread what I wrote because Prokhorov sold his interests in both Onexim Group and Renaissance Capital before the meeting in Zimbabwe occurred.
by diehardNFFLbarnone on Apr 11, 2010 4:03 PM EDT reply actions
Prokhorov has not sold his interests in either
Onexim purchased its interest in Renaissance in June 2009, not in 2008 as I previously thought. Renaissance had the Zimbabwe assets in its portfolio prior to that. It is not clear when in June 2009 the Renaissance conference with Zimbabwean ministers took place. Quite obviously, it had to have been arranged prior to the Onexim transaction was completed.
We do know that Renaissance has committed to working in Africa, one of the few investment banks that has.
I suspect we will see a lot more on this in the next few days. Until then, I will hold off making some judgment on how this will affect the Nets sale.
I'm Back!!!
This can’t be good for Proxy or the Nba. This has become a political issue. This just made David Stern look stupid since he was not able to find “anything” on this guy. Don’t get me wrong i like Proxy and i think he was the best thing to happen to the Nets in a long time but i was always aganist the abuse of “emient domain”. I do hope that Proxy gets approved and the Brooklyn things fails.
I see that you added Huffington Post to the list of new articles, cited above.
Although I’m not sure where it is placed (looks like somewhere in the Sports News section), because there isn’t much interest.
However, the Huffington Post story NOW has BALANCE in the Comments section:
http://www.huffingtonpost.com/toby-barlow/the-nbas-dirty-partner_b_533319.html
Who's more biased?
Huffington Post or the NY Post? They’re both on completely opposite ends of the political spectrum. Thanks for correcting some of their errors, but maybe YOU are the biased party? The media (on both sides) sees major issues with this new scandal, which could be potentially DEVASTATING for the NBA. BTW, the man (Proky) was on “60 Minutes” two weeks ago, and nary a word was mentioned about this. We’ll see how this all plays out, but this could very easily derail any Brooklyn deal, and for good reason if it is true.
Daniel got you
It looks like Goldstein responded to that article that you linked and once again disproved you. For the record, he did not write that article himself, it was done by Toby Barlow. I liked how he put you in your place. Of course if you want to get him back, then show up at that community meeting next Tuesday if you are brave enough.
by Tal Barzilai on Apr 11, 2010 6:55 PM EDT up reply actions
Well, it was Goldstein
who guaranteed that the Nets couldnt sell the bonds before Dec. 31. So maybe he’s not the perfect prophet either.
not a perfect profit but....
I think all of his work is going to pay off, as this issue has serious legs. We know Prokhorov does business in Zim- whether he can legally continue to do it while owning an NBA team is another question… BUT
Think of this: if the NBA is fine with Prokhorov doing business with a nation we’ve put sanctions on then aren’t we dealing with a slippery slope that could seriously burn the NBA in the future?
For example: what if after Prokhorov buys the team and moves them he decides he wants to invest in Iran and help them build nuclear bombs? It isn’t illegal for him to do it since Russia doesn’t have sanctions on Iran. And since he’s a Russian citizen there’s nothing the U.S. can do about it. But is the NBA okay with this potential sitting out there?
I know they need the money, but is it smart for the league to tie themselves to a guy that is willing to do business with regimes our government puts sanctions on? Shouldn’t the NBA at least make him sign an agreement stating he won’t do business with terrorists, or nations the U.S. has put sanctions on? And if he isn’t willing to abide by such an agreement shouldn’t he be totally thrown out on his butt?
nope... 1st time ever on SB Nation...
I’m a Miami Heat fan, but this really interests me.
the assumption
is that 1) the allegation is as reported; 2) that the Treasury Department will find it violates the law, and 3) that if true, it cannot be cured by a divestment of the investments.
Remember, he did not buy the assets…nor did his company, Onexim. They bought 50% of the company that owned the assets…nine months ago.
And should this deal fall through, the Nets will be for sale to the highest bidder, period. No bidder will match Prokhorov’s resources and the franchise will be screwed. Anyone who thinks otherwise is quite naive. Forest City will hold a fire sale.
Who mentioned DG's name above? Not me. Put me in place (Is 25 your age or your IQ (LOL)? Check the link again!
However, since there are only a handful of people reading over at Huffington Post (somewhere in the sports section), its not worth pursuing.
I’m sure our Mike would get a kick out of this cat fight.
I gotta go. I’ll check back tonight to see if this is resolved.
I often go to the Huff Post sports section
for my sports news.
Huff Post pays people less than $100 for articles…in some cases, writers get zip, just the exposure. Daily Beast pays a little better, but less than $250.
You misread his comment
He was stating why your mentions of the evictions had nothing to do with Proky’s background. My guess is that you failed to read everything as usual and only picked out parts of it with semantics. Another thing that Goldstein stated is that you are trying to shove these issues under the rug and trying to say that his interest in the Nets is more important that what he is commiting. What he may have done while still in Russia might be legal, but not if he comes to the US, and there are laws on that. In the end, he did put you in your place. The reason you probably won’t go to that community meeting is probably because you are probably more afraid of him than he is of you.
by Tal Barzilai on Apr 11, 2010 7:54 PM EDT up reply actions
I'm not positioning to run for public office some day like DG probably wishes. Besides, I live 4 hours away. I only grew up in Marine Park, Brooklyn.
I rest my case,
for tonight.
It's not that long a trip
Just take the B46 bus up to Fulton Street, and then take either the A or C Manhattan bound trains from Utica Avenue to Hoyt-Schermerhorn Streets. Seriously, it’s not a a four hour trip. I once rode from Flatbush Avenue from the Belt Parkway all the way to the Manhattan Bridge and it was only up to an hour at most. There were other ways, but the subway station mentioned would bring you there the closest. As for Goldstein, I have heard nothing about him running for public office, and I have met him myself.
by Tal Barzilai on Apr 11, 2010 11:01 PM EDT up reply actions
Yeah, but rolling the rock up and down the mountain, is the meaning and point of life.
“Get up and do it again, amen”….
Africa the motherland of civilization and the richest conitnent in terms of natural resources has been getting raped since the beginning of time. Every govt has dirt on its hands when it comes to that continent. Shame the rulers of countries are too greedy to even care about nothing but their own wealth and power.
Can you really blame proky if he is somehow involved? There is money there!!!
Don't they teach history in school anymore?
The ancient Egyptian’s ruled this world for thousands of years. They are our role model. The Greeks, Romans and all of western civilization, were their pupils.
Your sense of time is limited. Time is infinite.
How does it feel to be the smartest guy on this website?
Sometimes great, other times so-so. LOL of course…
Honestly you never know if their are lobbyist telling this guy to look into it
Maybe someone in the NBA circles doesn’t not want this to happen…..James Dolan???
Added a link to FanHouse story above.
Ziller reached out to the league today…
The NBA hasn’t directly responded to Pascrell’s charge its investigation of Prokhorov — compulsory with every change in team ownership — was “disgusting.” In a statement given to The Post Saturday and reiterated to FanHouse Sunday, a league spokesman defended the background check, calling it “very extensive and stringent” and reiterating that nothing disclosed caused the NBA pause in its recommendation of approval to the other 29 team owners. Prokhorov needs 23 of 29 votes to be approved by the league.
When asked Sunday by FanHouse whether Pascrell had asked the league to re-open its investigation of Prokhorov or deny Prokhorov’s ownership bid outright, NBA officials declined to comment. The NBA also declined to answer questions on who ran the background check, whether the background check for Prokhorov was undertaken with any more depth than those used for previous ownership bids, or whether the league planned to re-open its investigation
NetsDaily.com
Life will still go on, with us, or without us... That's comforting to know..
At least for me.
Good night … And God bless all of us…
Lets wait for a Proky associate to respond before making any judgment.
Worst case scenario is he agrees to sell some investment and makes a profit in the process.
Now Toby Barlow (Huffington Post) is making fun of the Nets 12-68 record, saying that it shouldn't be worth it to Proky.
My response is pending approval. He is probably investigating here and at Fanhouse before posting my remarks.
Apparently it wasn’t known that this is the 3rd attempt by this Congressman to derail the Nets venture involving a foreign investment.
http://www.huffingtonpost.com/toby-barlow/the-nbas-dirty-partner_b_533319.html
Yeah well he knows nothing about basketball, can't wait till we come out on top of this one.
Proky is not going to be convicted of anything, this sale is not just about the NBA but US Russian relations, Nukes, sanctions etc….It will get done!!!!!!
I didn't even think of it that way. But you are right - Medvedev and Putin would be pissed if the USA set an example with Prokhorov.
The US isn’t so clean, even with Obama as President. Afghanistan is corrupt and the US still is defending them, as the good outweighs the evil, but maybe not by much.
Remember that it was mentioned that Putin and Obama spoke about the sale of the Nets, when they last met.
If Proky didn’t have some dealings with Zimbabwe, someone else would take his place.
You fellas are missing the larger picture
Even if nothing comes of this investigation, David Stern and the NBA will want no part of being anywhere near the “world’s worst dictator”. This is not the kind of exposure that the NBA wants; by allowing this ownership approval to continue without much more investigation, the NBA would be tacitly supporting skrting U.S. and European sanctions (which are in place for a reason, BTW) and supporting a government that is known to “off” it’s political rivals. Nothing good can come of this because the damage is done. The NBA can best mitigate said damage by being seen doing a thorough investigation and concluding on how to move forward. Of course that investigation would likely kill AY, but at least the NBA can be seen as being a responsible global partner by taking a serious allegation very seriously.
Someone mentioned that this will go through because of the recent U.S./ Russian nuclear arms agreement, but does that really hinge on this deal getting done. The agreement is already signed. And if there is something dangering in nullifying it retroactively, then we’re not off to a good start, with the recent blowup about the adopted Russian boy sent back to Moscow after his Tennessee mom sent him back after saying she couldn’t handle him. The fear now is that it could ruin all pending adoptions between the two countries. I wouldn’t rely too much on one sports deal being the determinant for world peace.
Again, let's just wait
til the next story on this. I am not going to set my stars by the New York Post report of a congressman’s comments….particularly a congressman who didn’t want the Nets to move in the first place…and who addressed his last letter to NBA Commissioner Daniel Stern. The letter too got a lot of attention. He accused Barclays Bank of getting bailout money (they didn’t). It went nowhere.
I will note the following which has been confirmed by both Prokhorov and Russian President Medvedev: on the day the Nets deal was announced last September, Medvedev was meeting Obama at a New York reception for heads of state attending the UN General Assembly. Prokhorov asked Medvedev to inform the US president of the deal and to suggest it was good for US-Russia relations. He also asked Medvedev to ask for presidential support in the US. This is all public. Medvedev’s press secretary talked about it the morning after the reception and Prokhorov added details in his Bloomberg interview last month.
Well this debate is getting interesting over at Huffington Post, as DG (also an official HP blogger) denies any truth to any claims.
http://www.huffingtonpost.com/toby-barlow/the-nbas-dirty-partner_b_533319.html
Apparently Norman Oder (spelling corrected), is also showing his own bias, with his above story attacking NetsDaily.
What does Oder think, after getting everything he writes given free publicity on the NetsDaily site, then he expects people not to be upset when he and his associates are trying every possible delay tactic which would end up destroying the Nets organization, which is the reason for this site.
Are we not justified to be outraged??
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