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Forbes: Prokhorov Is NBA's Richest

Dmitry Beliakov
Dmitry Beliakov

Forbes Magazine, keeper on lists on all things wealthy, has recalculated net worths of NBA owners and reports Mikhail Prokhorov, not the Blazers' Paul Allen, is the richest NBA owner. Earlier this year, Forbes had Allen worth $100 million more than Prokhorov. Now, they list Prokhorov with $700 million more than Allen.

"The Russian white knight stepped in to bankroll the Nets oft-stalled move to Brooklyn," writes Forbes. "Stay tuned as he takes aim at the Knicks for the hearts and minds of New York hoops fans.'

Prokhorov has invested more than a half billion dollars in the Nets and Barclays Center: $200 million to buy 80% of the team and 45% of the arena; $177 million to retire 80% of the team debt: $60 million to cover losses while the team is in New Jersey; $4 million to break the lease at the IZOD; and $76 million in bonds to build arena infrastructure. The team has also invested $66 million in new contracts since he took over and sent $3 million to the Wizards to facilitate the Yi JIanlian trade. The team has also upgraded its basketball operations.