NBA Approval On Track As League Backs Prokhorov

The NBA went after Congressman William Pascrell, D-NJ, this afternoon, contending his statements about Zimbabwe sanctions busting were "misinformed"...and that the league intended to proceed with an approval vote as soon as the land in Brooklyn has been vacated. 

"U.S. companies are not prohibited from doing business in Zimbabwe; rather, they are prohibited from conducting business with specifically-identified individuals or entities in that country," said an NBA spokesman. "The NBA is aware of no information that Mr. Prokhorov is engaged in business dealings with any of these individuals or entities."  Renaissance Group, the company that's the subject of the charges, said it had "relatively small minority stakes in two assets in Zimbabwe".

Prokhorov's investment company, Onexim, also issued a statement, "Contrary to erroneous media reports, the company and all of its holdings have always been in strict compliance with all United States and European rules regarding Zimbabwe and have had no dealings whatsoever with companies or individuals on the sanctions list."

• NBA says New Jersey congressman misinformed in criticizing Nets new owner - Tom Canavan - AP
• Future Nets owner Mikhail Prokhorov, NBA respond to New Jersey congressman's call for investigation - Dave D'Alessandro
• Prokhorov Group Denies Links to Sanctioned Firms in Zimbabwe - Richard Sandomir - New York Times
• NBA OK with Prokhorov's deals in Africa - Chris Sheridan - ESPN
• Bruce Ratner reflects on past with Nets, looks to future under Prokhorov - Julian Garcia - The InterNets
• NBA backs Nets buyer against congressman's charge - Ed Robinson - New York Post
• War of Words Heats Up Over Prokhorov's Zimbabwegate - Neil deMause - Village Voice
  
• NBA, Prokhorov's firm fire back on Zimbabwe issue - Norman Oder - Atlantic Yards Report
• Vote on Russian tycoon's Nets bid to proceed as planned - Frank Pingue - Reuters
• Pascrell not buying Prokhorov denial of Zimbabwe dealings - John Brennan - The Record
• Pascrell doesn't buy Prokhorov defense, but evidence regarding sanctions-busting is unclear - Norman Oder - Atlantic Yards Report
  
• Russian billionaire denies Mugabe links despite CBZ shares - Lance Guma - SW Radio Africa
  
• NZer's Zimbabwe investment eyed in US - New Zealand Press Association
  
• U.S. Lawmaker Riled Over Prokhorov's Nets Purchase - Maria Antonova - Moscow Times