Prokhorov has deal to buy Nets

Updated: September 24, 2009, 3:39 PM ET
Associated Press

EAST RUTHERFORD, N.J. -- Could the New Jersey Nets become the Nyets?

The basketball team once known as the New Jersey Americans is a step closer to being owned by Russia's richest man, Mikhail Prokhorov, who on Wednesday said he has a deal to buy 80 percent of the NBA team and nearly half of a project to build a new arena in Brooklyn.

The proposed blockbuster deal would give the Nets' current principal owner, Bruce Ratner, the needed cash to move forward with the centerpiece of his ...

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