You may have heard by now that the New Jersey Nets hired a new general manager last month. In mid-July, Nets president Rod Thorn officially handed over the position to Billy King during a press conference. King was formerly the president and general manager for the Philadelphia 76ers. The Sixers had some significant success while he was with them, including making it to six postseasons and the 2001 NBA Finals, but he was fired in 2007.
New Jersey's NBA team, the Nets, has a new owner. In a recent business acquisition between developer Bruce Ratner and Russian entrepreneur Mikhail Prokhorov, $200 million bought Prokhorov the title of the Nets' majority owner.