Posted March 24, 2014 by Luis Mercado in Sports

Russia Nets? Mikhail Prokhorov Plans To Transfer Ownership Overseas

The journey of the Brooklyn Nets and its ownership have been quite interesting the past couple years.

Now it looks like sports richest owner Mikhail Prokhorov is looking to move the NBA team to Russia.

According to ESPN,

Mikhail Prokhorov first announced last year that he wanted to shift control of the team to a Russian-based company after the Kremlin passed a law regulating foreign holdings for public officials.

However, the move would also be in line with Russian President Vladimir Putin’s recent call for billionaires to register their businesses at home in the wake of U.S. sanctions following Russia’s annexation of Crimea.

Hmm. This could easily become some form of a conflict of interest so it will be interesting to see what happens to the team in the future.