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Mikhail Says Hello


Barring any last minute surprises, Mikhail Prokhorov is expected to be approved as Nets owner sometime Tuesday afternoon, seven months after he agreed to buy 80% of the team and 45% of Barclays Center from Bruce Ratner. Three-quarters of the league's 30 owners must approve his bid.

Prokhorov remains in Moscow, where he is also finalizing another purchase, that of a large Russian television and internet outlet. He's expected to be on dais at the Draft Lottery next Tuesday night when the Nets hope to secure the overall #1 pick in the draft...and John Wall.

Prokhorov would become the NBA's first foreign owner. The only other sports franchise with majority foreign ownership is the Japanese-owned Seattle Mariners of Major League Baseball.

The 6'8" Russian would also become the second richest owner in professional sports. According to Forbes Magazine, he's worth $13.4 billion, $100 million less than Paul Allen, owner of the Blazers and the NFL's Seattle Seahawks.  Prokhorov has reportedly transferred the $200 million purchase price as well as $60 million needed to cover team losses while the team is in New Jersey.