Mikhail Prokhorov Approved as Nets Owner

The New Jersey Nets’ new owner was approved by the NBA’s board of Governors, which pleases David Stern: “We are pleased that the NBA’s Board of Governors approved Mikhail Prokhorov’s purchase of majority ownership of the Nets, welcoming into the NBA ownership ranks the league’s first majority investor from outside of North America,’ NBA Commissioner David Stern said. ‘We anticipate that his passion for the game and business acumen will be of considerable value not only to the Nets franchise but to the entire NBA.”‘