New Jersey Nets' new owner taps into Russian market
Mikhail Prokhorov, the Russian owner of the New Jersey Nets since last May, is deepening his team’s business ties with Russian companies. And he hopes to add more in the years to come.
Prokhorov, the second-richest man in Russia, said his team has entered into a sponsorship agreement with Aeroflot, Russia’s leading airline. The deal will last for the next two years,
with the Nets playing their home games at the Prudential Center in Newark, before the team moves to the Barclays Center in Brooklyn, New York, in 2012.
“We’re proud to announce that one of Russia’s blue chip companies and best brands is becoming a Nets corporate sponsor, and we’re looking forward to a long and mutually beneficial relationship
with Aeroflot,” Prokhorov said.
The announcement comes less than a month after the team announced a five-year deal with Russian vodka company Stolichnaya, which will begin once the team moves to Brooklyn in two years.
The Aeroflot deal marks the first time the airline has entered into a sponsorship agreement with an American sports team. Numerous Nets games will air on NTV this year, a Russian television
network. During these games, Aeroflot will receive exposure through court-side signage. They will also receive on-screen branding for several of the Nets away games on the YES network.
Brett Yormark, the Nets chief executive, who said he hopes to extend the two-year deal with the airline once it expires, is excited about the new partnership. “They are an airline going
through the same things we are, in terms of a lot of positive change, a new fleet and more direct flights from JFK to Russia,” Yormark said. “This is an opportunity to build their brand here but also to reinforce it in Russia.”
Yormark, who visited Russia last month to meet with over 30 representatives of different Russian companies, is excited about the new business opportunities that Prokhorov represents. His
presence allows the Nets to tap into the lucrative Russian market.
“(Prokhorov) is the connector to the marketplace,” Yormark said. “The NBA opened an office in Russia in August and it’s a market that we’ll be working and looking to develop. But I think
without Prokhorov, these deals don’t exist.”
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