New Jersey Nets, Meet Your New Owner

Move over, Mark Cuban. There's a new B.M.O.C. in NBA basketball, and his name is Mikhail Prokhorov.

Reportedly worth $2.3 billion, Cuban--hedge fund honcho and owner of the Dallas Mavericks--has had a good run. But he's been pushed out of the headlines this week by news that Russia's richest man, Onexim Group owner Prokhorov, is laying out $200 million to purchase an 80% share in the New Jersey Nets, alongside a 45% stake in the Nets' new stadium.

Prokhorov says he's doing the deal in the interests of "developing Russian basketball, which will get access to the most modern techniques of sports management and work with young talent."But if that's the case, he might want to take a closer look at the sports page. The Nets went 34 and 48 last season, repeating their 2008 performance and tying for 11th place in the Eastern Conference.

Personally, I think Prokhorov may be in this for the bragging rights. After all, rival Russian oligarch Roman Abramovich is worth a paltry $8.5 billion compared to Prokhorov's $9.5 billion--but Abramovich owns a professional sports team, England's Chelsea Football Club.