MOSCOW, September 24 (RIA Novosti) - A U.S...
investment will be reportedly smaller then the public"s, instead of benefiting the taxpaying public."The NBA club said that, according to the preliminary agreement, Onexim Group "will invest $200 million and make certain contingent funding commitments to acquire 45% of the arena project and 80% of the NBA team, and the right to purchase up to 20% of the Atlantic Yards Development Company, which will develop the non-arena real estate."
However, while the U.S. politician raised his concern over the deal, NBA Commissioner David Stern expressed his approval for the deal.
"Interest in basketball and the NBA is growing rapidly on a global basis and we are especially encouraged by Mr. Prokhorov"s commitment to the Nets and the opportunity it presents to continue the growth of basketball in Russia," Stern said.
New Jersey Nets said in a statement on Wednesday that "the transaction is expected to close by the first quarter of next year upon certain conditions
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