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Russian billionaire sold NBA team over ‘pressure to prove loyalty to Vladimir Putin’

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Vladimir Putin, according to fresh reports.In 2009, the politician made an offer to buy a controlling interest in the NBA franchise, then known as the New Jersey Nets, with the sale approved the following year.His 80 per cent stake made him the majority owner of the team, and after overseeing the switch to Brooklyn, he also acquired a 45% interest in the team's new home venue, the Barclays Center.The purchase made Prokhorov, 56, the first ever non-North American team owner in the NBA, a fact that was met with contrasting opinions from opposing team owners at the time.During his tenure, the Nets reached the conference semi-finals in 2014, but some three years later he agreed to sell 49 per cent of his stake - valued at USD$1.2billion, to Joseph Tsai.In 2019, Prokhorov sold the remaining 51 per cent of the Nets to Tsa for a further USD$1.35bn, and also freed himself of the Barclays Center for USD$1bn, in the biggest transaction ever for a US sports team.And now a report in the New York Post has claimed that the sale was made not due to Prokhorov's desire to get out of the NBA, but because of pressure from Putin to relinquish his control."As tensions between the US and Russia over Crimea grew, Putin in 2016 also began pressuring Prokhorov to sell the Nets, according to sources," read the report."That’s because Putin, especially during times of political turmoil, will test the loyalty of oligarchs with assets in the West to show they won’t get too close to the US or Europe."Should Russian sports team owners now be subject to sanctions?

Let us know in the comments section.A source was also quoted as saying: “Putin strongly suggested he sell the Nets."And if Prokhorov refused, he risked losing his considerable assets in.

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