Mandatory Credit: Debby Wong-USA TODAY Sports

Mikhail Prokhorov will move company that runs Nets to Russia


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Tensions between the Russia and the United States are growing. Aside from the U.S. imposing sanctions on seven prominent Russians and four Ukrainians with close ties to Russian President Vladimir Putin. Brooklyn Nets owner Mikhail Prokhorov isn’t one of them, though he is close to Putin, but he is showing his allegiance by moving the company that runs the team to Russia.

Reuters:

Mikhail Prokhorov, owner of the Brooklyn Nets, had said before that he planned to relocate the company that runs the NBA team to Russia, but his comments to reporters in the Kremlin underlined his support for Putin.

“A Russian company will own the basketball club,” Prokhorov said before receiving a medal for services to Russia along with other national sports officials.

“This (move) does not violate any NBA (U.S. National Basketball Association) rules and I will bring it (under Russian jurisdiction) in accordance with Russian law.”

For the most part it is a statement move and probably won’t affect the day-t0-day operations. Lots of soccer clubs are owned by companies based overseas, like the Fenway Group with Liverpool FC.

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Tags: Brooklyn Nets