New Jersey Nets Owner to Run Against Putin

Russian billionaire Mikhail Prokhorov -- the owner of the New Jersey Nets basketball team and one of the world's richest men -- said Monday that he will run for president of Russia next year, reports CNN.

Calling his decision to run for president "probably the most important decision of my life," he acknowledged the risks of challenging Russia's rulers.

"There is saying in Russia: Never say never, anyone can end up behind bars. But I am not afraid," he said in a press conference in Moscow.

Prokhorov, 45, is worth $18 billion, Forbes estimated in March, making him Russia's third richest man.

Says CNN:

His announcement set off a frenzy of speculation about whether he was running with the Kremlin's tacit backing, to give the impression there was a genuine contest for president, or whether he really seeks to defeat Prime Minister Vladimir Putin, who also says he will run.

In October, Prokhorov told NYT that nobody was interested in him until he bought the New Jersey Nets. He underwent media training to make him a more palatable owner to American basketball fans - reportedly watching Katie Couric's interview with Sarah Palin for tips on what not to do on camera.