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Mikhail Prokhorov to move company that runs Brooklyn Nets to Russia

Mar 24, 2014, 6:33 PM EDT

Mikhail Prokhorov AP

The United States has imposed sanctions against seven prominent Russians and four Ukrainians with close ties to Russian President Vladimir Putin.

Though Brooklyn Nets owner Mikhail Prokhorov is close with Putin, he has not been sanctioned.

He will show his loyalty to Russia, though.

Reuters:

Mikhail Prokhorov, owner of the Brooklyn Nets, had said before that he planned to relocate the company that runs the NBA team to Russia, but his comments to reporters in the Kremlin underlined his support for Putin.

“A Russian company will own the basketball club,” Prokhorov said before receiving a medal for services to Russia along with other national sports officials.

“This (move) does not violate any NBA (U.S. National Basketball Association) rules and I will bring it (under Russian jurisdiction) in accordance with Russian law.”

Barring another development, this probably a decision that won’t have significant ramifications on the NBA, but it could get complicated.

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