clock menu more-arrow no yes

Filed under:

NBA: Prokhorov "On Track" for Approval April 16

New, comments

Following Michael Jordan's approval as Bobcats owner, NBC Deputy Commissioner said Mikhail Prokhorov is up next.  Silver reiterated the Nets sale to  Prokhorov remains on track to be completed in early-to-mid April.  "It would be our hope that the deal would be completed by the Board of Governors meeting," said Silver, referring to April 16 gathering of the league's owners in New York. Silver said the financial hurdles between Prokhorov and Bruce Ratner have been cleared. The remaining issue is the speed of eviction at the arena site.  The ESDC has told residents and businesses in the arena "footprint" they must vacate their premises by April 3, but they say that's up to the judge in the case.  The judge, Abraham Gerges, has considerable leeway in setting dates for eviction. Gerges has already approved the condemnation.

"What is largely holding up the Prokhorov deal are factors outside the control of either the buyer or the seller, or the league for that matter," Silver said. "Those are various legal procedures in Brooklyn. We're only a certain number of weeks away from that deal being consummated."  The Board of Governors meeting comes two days after the last game of the Nets season.