NBA gets first foreign owner 13/05/2010 |
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The National Basketball Association has approved Russian tycoon Mikhail Prokhorov’s bid to buy the New Jersey Nets, making him the NBA’s first non-American owner.
Prokhorov, one of Russia's richest men, signed a letter of intent in September to acquire the team and move it to Brooklyn, but a vote to approve the sale was delayed until now.
"We are pleased that the NBA's board of governors approved Mikhail Prokhorov's purchase of majority ownership of the Nets," NBA commissioner David Stern said.
However, US congressman Bill Pascrell, who represents the eighth congressional district of New Jersey, is a fierce opponent of the sale to Prokhorov and has called for investigations into the Russian's business dealings in Zimbabwe.
"I am disappointed in the NBA for holding this vote while questions still remain as to the extent of Mr Prokhorov's business ties to the brutal regime in Zimbabwe," Pascrell added.
NBA rules require background checks on a new owner as well as approval by 75 per cent of the 30 team owners. Details of the vote were not provided by the league.
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