LC
Years ago

Russian tycoon makes bid for the



ESPN Link: http://linky.com.au/u1hfj

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LC  
Years ago

Russia's richest man, Mikhail Prokhorov, has made a takeover bid for the New Jersey Nets. Prokhorov, a former nickel mining baron, boasts that if his move is successful, it would be the first time a National Basketball Association club would come under foreign control.

Onexim would also receive a controlling stake of the NBA team for a "symbolic" price, the post said. Sources close to the billionaire have previously estimated the overall value of any deal at $700 million.

A former chief executive of the world's largest nickel firm Norilsk Nickel, Prokhorov has an estimated fortune of $9.5 billion, according to the latest Russian edition of Forbes magazine.

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