Will Brooklyn Lose The Nets To Russia?

04:00

March 28, 2014

Russian billionaire and Brooklyn Nets owner Mikhail Prokhorov has announced plans to transfer ownership of the basketball team to one of his Russian companies, but it's unclear whether or not the NBA will allow it. (Kathy Kmonicek/AP Photo)

Russian billionaire Mikhail Prokhorov's plans to transfer the Brooklyn Nets to one of his Russian companies may never happen.

The move, which would be the first of its kind in U.S. professional sports, can not take place without the approval of the National Basketball Association. It's unclear whether the NBA would let such a change happen.

Prokhorov's proposed ownership transfer would be in keeping with Russian President Vladimir Putin's call for businesses to be registered and pay taxes in Russia. There's also a ban on politicians having foreign accounts and equity.

Prokhorov ran for president against Putin in 2012.

Bloomberg News reporter Scott Soshnick joins Here & Now's Sacha Pfeiffer to discuss the possibility of a Nets ownership transfer.

Guest

Scott Soshnick, sports business writer for Bloomberg News. He tweets @soshnick.

This segment aired on March 28, 2014.