Thursday , Sep , 24 , 2009 C.Y. Ellis

Mikhail Prokhorov to Buy 80% of New Jersey Nets

Russian billionaire Mikhail Prokhorov agreed to invest $200 million in return for a 80 percent stake in New Jersey Nets basketball team, 45 percent of the Barclays Center development project and an option for as much as 20 percent of Atlantic Yards Development Co., Prokhorov’s Onexim Group said today in an e-mailed statement made jointly with Forest City Ratner Co.