NBA

NBA approves new Nets owner Prokhorov

The Russian has arrived.

The NBA Board of Governors, by a 28-0 vote, today approved the sale of the Nets to Russian billionaire Mikhail Prokhorov, who purchased 80 percent of the failing team and 45 percent of the planned Barclays Center arena in Brooklyn.

Closing on the sale of the team and building is expected Wednesday.

“It is my pleasure and honor to be joining the ranks of NBA team owners. My thanks to (Commissioner) David Stern, the NBA, the Nets organization, Bruce Ratner, and the other team owners who have given me their support,” Prokhorov, worth an estimated $13.4 billion, said in a statement. “(The) vote will give the NBA a greater global reach and bring a multitude of new fans to the game of basketball. For those who are already fans of the Nets and the NBA, I intend to give you plenty to cheer about.”

Prokhorov, who ran the CSKA Moscow basketball power, becomes the first foreign NBA owner. His fortune, the Nets hope, will serve as a magnet to free agents. The Nets have roughly $26 million to spend this summer.

A person familiar with the electronic voting said one team opposed the sale.

Prokhorov, who spawned his fortune in nickel mining, is expected to represent the Nets at the NBA Draft lottery Tuesday in Secaucus when the true rebuilding of the team that was a 12-70 national joke begins. Should the Nets land the No. 1 pick – they have a 1-in-4 chance of getting it – they almost certainly will draft Kentucky guard John Wall.

Stern, who has defended Prokhorov against charges by Congressman William Pascrell (D-N.J.) who called for an investigation into the Russian’s business dealings in Zimbabwe, announced the Board’s approval.

“We are…welcoming into the NBA ownership ranks the league’s first majority investor from outside of North America,” Stern said. “We anticipate that his passion for the game and business acumen will be of considerable value.”

Pascrell renewed his attacks, calling the NBA’s approval “extremely short-sighted” because “questions still remain as to the extent of Mr. Prokhorov’s business ties to the brutal regime in Zimbabwe as well as Russian organized crime.”

The Nets have been a wrongway franchise since Bruce Ratner bought them in August 2004.

“Mikhail and his team will bring tremendous innovation and excitement to the NBA. He has a love for basketball and a commitment to excellence,” Ratner said.

For the players, the approval is no surprise. Most saw Prokhorov’s highly publicized interview on “60 Minutes” in March.

“He seems like a good guy,” Courtney Lee said of the 6-8 former player. “He’s active and can understand the difficulties in it. Sort of what we go through.”