MOSCOW (AP) -Russian tycoon Mikhail Prokhorov says in his personal blog that he has made an offer to buy the New Jersey Nets.
Prokhorov, considered Russia’s richest man, said Tuesday on his blog that he sent team shareholders an offer over the weekend. Under the proposal, Prokhorov’s holding company Onexim would obtain a controlling share in the Nets in return for loaning the money to build a new arena.
No monetary figures were given, but the blog posting says the controlling shares would be obtained for “a symbolic price.”
Nets owner Bruce Ratner faces a December deadline for his plan to build an arena in Brooklyn and move his team there in 2011. The construction needs to break ground by then or lose access to tax-free bonds financing much of the project.
Add A Comment