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Russia's Richest Man May Build NBA Stadium

by Deidre Woollard (RSS feed) Sep 18th 2009 at 8:02PM

Back in June I started hearing rumors that Russia's richest man Mikhail Prokhorov was interested in buying a portion of the New Jersey Nets. The six-foot-nine-inch-tall billionaire is a basketball fan and owns a share of a Russian basketball team. The latest news from Moscow is that he may help to build the team's new arena. He would provide a loan for the Nets and receive a large non-controlling stake in the team in return. Nets owner Bruce Ratner has wanted to build an arena for the team in Brooklyn and move his team there in 2011. The stadium's construction may cost around $800 million. Ratner has been to Moscow for talks but nothing has been officially confirmed yet.

Tags: basketball, mikhail prokhorov, MikhailProkhorov, nba, new jersey nets, NewJerseyNets

Filed under: Sports, Wealth

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