Mikhail Prokhorov Facing Political Pressure in New Jersey

by April 12, 2010

Despite the billions in his bank account, Prokhorov still has to answer to politicians and lawmakers before he can take over the Nets. The NY Post reports: “A New Jersey congressman says he will demand a government inquiry into Mikhail Prokhorov, the Russian billionaire poised to buy the New Jersey Nets, for his extensive business dealings in Zimbabwe — a bombshell that could blow up the $200 million team deal and threaten the future of Brooklyn’s Atlantic Yards, The Post has learned. Democratic Rep. Bill Pascrell Jr., a member of the powerful Ways and Means Committee, wants to know if companies controlled by Prokhorov in Zimbabwe violate federal rules that forbid American citizens and companies, and subsidiaries set up in the United States, from doing business with brutal strongman Robert Mugabe, his regime or associates. ‘This is disgusting,’ Pascrell said. ‘Obviously, the Board of Governors of the NBA didn’t do their job properly when they vetted this deal.’ He said the project received tax-exempt bonds. ‘It’s being financed partly by the taxpayer, and the public has a right to know,’ he said.”