Melting Pot
Sep 25, 2009 | 10:38 AM
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Oligarch got game
Russian oligarchs are known for their lavish purchases of luxury yachts, Tuscan villas, penthouse apartments and English soccer teams.
Now the shopping spree appears to be spreading to this side of the Atlantic, with Mikhail Prokhorov, former chairman of Norilsk Nickel, launching a $200-million bid for a majority ownership of the New Jersey Nets basketball team through his private investment fund, the Onexim Group.
If successful, the Nets would become the first NBA team to be controlled by foreign ownership. However, a cash infusion could be exactly what the franchise needs. Current owner, developer Bruce Ratner, is attempting to move the team from the swamps of New Jersey to a yet-to-be-built arena in the Prospect Heights section of Brooklyn, N.Y.....
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