Businessman Prokhorov will own U.S. basketball team through Russian companies

Businessman Mikhail Prokhorov will own a basketball team in the U.S. through Russian companies.

Businessman Mikhail Prokhorov will own a basketball team in the U.S. through Russian companies.

"I am doing everything to own a Russian company: a basketball club. This process is going slowly. I have said many times that I am slowing transferring the basketball club to Russian companies in accordance with the legislation," Prokhorov told reporters.

Responding to a question as to whether the U.S. sanctions may affect this asset in the U.S., the businessman said: "It's now unclear. We are all waiting now. At this moment they can't."

Prokhorov also owns the Brooklyn Nets of the North American National Basketball Association.

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