Russia’s Prokhorov Sells 49 Percent In Brooklyn Nets Basketball Team - FbiCables Network | The News that Shapes World Opinion

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Friday, April 13, 2018

Russia’s Prokhorov Sells 49 Percent In Brooklyn Nets Basketball Team


Brooklyn Nets owner Prokhorov talks with the media about his decision to fire head coach Johnson, at half time of their NBA basketball game with the Charlotte Bobcats in New York
FILE PHOTO: Brooklyn Nets owner Mikhail Prokhorov talks with the media about his decision to fire head coach Avery Johnson, at half time of their NBA basketball game with the Charlotte Bobcats in New York December 28, 2012. REUTERS/Ray Stubblebine
April 13, 2018
MOSCOW (Reuters) – Russian billionaire Mikhail Prokhorov has sold a 49-percent stake in the Brooklyn Nets basketball team to Joe Tsai, the executive vice chairman and co-founder of the Alibaba Group, the NBA team said in a statement.
Prokhorov will continue to be the team’s controlling owner through Onexim Sports and Entertainment Holding, and the sale will not affect its day-to-day management or basketball operations, the statement added.

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