New Jersey Nets

Russian Billionaire Launches Hybrid Cars

Filed under: Green

Mikhail Prokhorov, the Russian billionaire perhaps best known in the U.S. for purchasing The New Jersey Nets NBA franchise, is launching a line of hybrid vehicles, named Yo, in Russia this week.

Prokhorov said Monday the cars, powered both by gasoline and electricity, are "socially important products" that he hopes will "overcome existing stereotypes ... that Russia cannot make normal cars."

The vehicles are to be sold in three models - sedan, sporty and a small truck - with an expected price of around $10,000 (€7,550).

The name is written in Russian by the letter E with two dots over it.

There are no plans to introduce the cars to the U.S. Eastern Europe still has much lower standards than the West for safety and emissions standards, so the cost and difficulty of entry into the Russian market is much lower than in the U.S.

Tags: Hybrid Cars, Mikhail Prokhorov, New Jersey Nets, Yo hybrid cars

The Carlton Hotel's Giants/Jets Football Package

by Deidre Woollard (RSS feed) —

Filed under: Luxury Travel & Hotels, Sports

Whether you are a Jets fan or a Giants fan New York City's Carlton Hotel has you covered with their Meadowlands Stadium NFL 'Touchdown Package.' The historic Carlton Hotel is located in the heart of Manhattan but the package includes a private roundtrip chauffeured luxury sedan from the hotel to the newly renovated Meadowlands stadium in New Jersey. Guests check in on Friday and checkout on Sunday after the game. The package includes two nights in a standard room with one full (with upgrades when available) and two tickets to a Giants or Jets game seated in section 300 or better. The NFL package is available for all home games through January 2, 2011 and prices begin at $455 per person, plus taxes.

Tags: carlton hotel, hotel deals, hotel deals new york city, meadowlands, meadowlands stadium, New Jersey Nets

Russian Billionaire Makes A Deal With Stoli And The Nets

by Deidre Woollard (RSS feed) —

Filed under: Sports

The new owner of the New Jerset Nets, Russian billionaire Mikhail Prokhorov, has big plans for his team. Prokhorov is bringing Russian style to his team and to the area, first with his Russian-language luxury magazine Snob and also with a five-year sponsorship deal with Stolichnaya, the Russian vodka producer. The NY Times reports that the deal is worth about $2 million a year and will include Stoli-branded bars at the Barclays Center, the Nets arena being built in Brooklyn. The Nets are overseas right now, first in Moscow and in China. It's all part of Prokhorov's strategy to create what he calls a global team. He's hoping to have the entire country of Russia cheer for the Nets by bringing them to his home country. As the NY Times article points out the Houston Rockets are popular in China because of Yao Ming, an interest that has led to endorsement deals with Chinese companies. Many NBA teams play preseason games overseas increasing worldwide interest in basketball and the NBA.

Tags: Mikhail Prokhorov, new jersey nets, stoli, stoli vodka, stolichnaya

Prokhorov Brings Snob Magazine To The U.S.

by Deidre Woollard (RSS feed) —

Filed under: Wealth

Russian billionaire Mikhail Prokhorov and New Jersey Nets owner will be bringing Snob, his magazine for the ultra-rich to the U.S. Bloomberg News reports that Prokhorov plans to start selling the magazine in the U.S. without an English translation for $8. Prokhorov told Bloomberg News that he's looking for a little synergy between the two projects hopping to turn Snob fans into Nets fans and vice versa. Prokhorov, who has a fortune of $13.4 billion, according to Forbes magazine, has big plans for the team. He bought 80 percent of the Nets and 45 percent of Barclays Center in Brooklyn, New York for $200 million and funding commitments this year. The arena is part of a $4.9 billion complex in Brooklyn that is in an area with around 330,000 immigrants from the former Soviet Union. Prokhorov wants to find a global audience for both the Nets and for his magazine.

The Wall Street Journal says that the magazine is launching in New York Wednesday with an initial run of about 20,000 copies. It will also be sold in Chicago, Boston and San Francisco. In Russian the title is an acronym of the Russian words for accomplished, independent, educated and thriving but the connotations are not so favorable in the U.S.

Tags: Mikhail Prokhorov, New Jersey Nets, Russian billionaire, snob magazine

Russia's Richest Man May Build NBA Stadium

by Deidre Woollard (RSS feed) —

Filed under: Sports, Wealth

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.

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