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Prokhorov gets control of Nets

Updated: May 12, 2010, 3:47 PM ET
ESPN.com news services

NEW YORK -- The first step in what the New Jersey Nets hope is a quick turnaround is in place.

New owner Mikhail Prokhorov is eager to get started on the rest.

Prokhorov's purchase of the team was approved Tuesday by NBA's owners, who welcomed the first non-North American into their club. The financial transaction was closed at 12:30 p.m. ET Wednesday, the team announced in a statement.

Russia's richest man agreed to buy 80 percent of the Nets and 45 percent of an arena ...

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