Moscow (AFP) - Russian billionaire businessman Mikhail Prokhorov, owner of the Brooklyn Nets basketball franchise, said Monday he was transferring its ownership to Russia.
As one of the richest Russians with assets abroad, Prokhorov could be vulnerable if the Western powers escalate economic sanctions against Russia over its takeover of Crimea.
"I am doing all that I can to own the basketball club through a Russian company," Prokhorov told journalists, quoted by the Interfax news agency.
Prokhorov is the principal owner of the Brooklyn Nets through his Onexim Sports & Entertainment holding, according to the team's website.
The Brooklyn Nets last year jumped in value 47 percent to $780 million, making it the fifth most valuable National Basketball Association club.