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Another Delay in Ownership Change

The NBA's Board of Governors won't vote to approve Mikhail Prokhorov's purchase of the Nets until the site of the Brooklyn arena is vacant, and that's not going to happen before April 16. The vote is considered a formality. The documentation for the purchase has already been filed and a background check on Prokhorov is complete. "Site possession is the only thing impacting the timing of the vote," said NBA president Joel Litvin.

An ESDC spokesman told GlobeSt., a real estate blog, the arena footprint would not be legally "vacated" until all tenants have been relocated adding, "We hope to accomplish this within the next month or two."