With "vacant possession" of the arena footprint completed and the league long satisfied with its vetting of him, Mikhail Prokhorov will be approved as the Nets' principal owner Tuesday, the Times reports. Then, the next day, the team's sale will officially close, giving the Russian billionaire 80% of the Nets and 45% of Barclays Center. A Nets' insider confirms the schedule.
The Times also reports on its investigation into reports that Prokhorov's investment bank, Renaissance Capital, had violated US sanctions against Zimbabwe. A spokesman for RenCap once again denied the charge, first made by Rep. William Pascrell Jr. (D-NJ), saying the investments were made by a "sister company." Attempts to independently verify the spokesman's claims were unsuccessful, the Times reported. The NBA called the congressman’s allegations "factually unsupported," but declined to provide details on its vetting process.
- Vetting Prospective Nets Owner Is No Simple Task - Richard Sandomir - New York Times
- Times can't verify claims his company is active in Zimbabwe - Norman Oder - Atlantic Yards Report
Is David Stern Unbothered By Nets’ Suitor’s Mugabe Ties? - GC - Can't Stop the Bleeding