Prokhorov Leaving Business for Politics, Staying With Nets?

Posted on: October 27th, 2012 by Devin Kharpertian Comments

Mikhail ProkhorovBrooklyn Nets majority owner Mikhail Prokhorov doesn't spend much time in the spotlight, but when he does, it's guaranteed goodness. From his jet-ski tricks to his gun collection to his often-derisive tone about other players franchises, he's always good for some entertainment value.

However, it seems that those days are numbered, as Prokhorov has announced he'll leave the business world and focus full-time on politics in Russia. From ABC News (The mistaken Moscowian "New Jersey" reference aside):

Russian tycoon and former presidential candidate Mikhail Prokhorov says he is leaving business to do full-time politics.

Prokhorov, who is believed to be worth about $13 billion, finished third place in Russia's presidential election in March.

He said Saturday that he is retiring from business altogether to focus on building his own party.

Prokhorov, who owns control of the New Jersey Nets basketball team, told his party meeting that he will put his money in a trust fund and let his partners at the investment vehicle Onexim run the shop, Russian news agencies reported.

Read More: AP/ABC News -- Russian Tycoon to Ditch Business for Politics

That said, it appears that Prokhorov's decision will not impact his future with the Nets, according to Prokhorov's publicist Ellen Pinchuk:

"This does not affect his ownership of any assets, including the Brooklyn Nets," Pinchuk wrote in an e-mail. "The current managerial group that makes the day-to-day decisions for the team will continue to do so. Mikhail will continue to show his support for the Brooklyn Nets in every way, both as an owner and a fan."

Read more: New York Daily News -- Prokhorov's return to politics fulltime won't affect the Nets