NBA and Onexim Respond

The NBA responded today to charges by the New Jersey Congressman about Zimbabwe that the law applies to certain sanctioned individuals and entities in Zimbabwe – not doing business with the country of Zimbabwe as a whole. As to that, the NBA is okay with Prokhorov\’s and Onexim\’s dealings with Africa and he remains on track to become the next owner of the Nets when New York State takes formal possession of all of the property underlying the transaction.*

Onexim Group, prospective Nets owner Mikhail Prokhorov\’s investment fund, also indicates that they are in compliance with all American law regarding doing business in Africa and do no business with the sanctioned parties.

No doubt the NBA\’s lawyers and Onexim\’s have reviewed the charges and find them without foundation. It now appears that the NBA will proceed with the vote to approve the new owner.

NBASCOUT is an independent freelance sportswriter that covers the NBA and the New Jersey Nets. He is not affiliated with the National Basketball Association. Copyright 2010 by NBASCOUT, all rights reserved. This material may not be published, broadcast, rewritten, or redistributed without the express written consent of the author. The opinions expressed herein are those of the author and not necessarily this website. You may e-mail NBASCOUT in care-of his wife, who writes for children, at kathyforkids@cs.com

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