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News

Prokhorov ‘getting the hell out of Russia’ after embarrassing Putin

Mikhail Prokhorov is in a hurry to sell his Russian-based holdings, but the billionaire will keep his beloved Brooklyn Nets, sources say.

Prokhorov got on Vladimir Putin’s bad side earlier this month, when a newspaper published by RBC media group (which Prokhorov has a large interest in) reported the names of members of the Kremlin’s inner circle who turned up in the Panama Papers — a list of tax avoiders hiding money in offshore accounts.

“He broke a cardinal rule by embarrassing Putin,” said a Russian source. “Now he wants to get rid of everything and get the hell out of Russia.”

When Prokhorov was in New York two weeks ago hiring new Nets coach Kenny Atkinson, Kremlin agents raided his Moscow offices.

Now, to avoid a long stretch in a Siberian labor camp, sources say, Prokhorov wants to sell everything and leave Russia.

He has already unloaded his 202-foot megayacht Solemar at a big loss. He bought the boat for $40 million, and sold it last week for $27 million.

But Prokhorov’s spokeswoman Ellen Pinchuk said the sale had been in the works for months. As for the Nets, “he has no plans to sell the team,” Pinchuk said.

Prokhorov is expected to divest his media holdings, as well as his mining interests.

“It’s self-preservation,” said my source.