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Prokhorov Fires Brooklyn Nets' Coach In Team Shake-Up

Mikhail Prokhorov, the Russian billionaire who owns the Brooklyn Nets in New York, fired the losing basketball team's head coach as part of a team reorganization January 11.

"After careful consideration, I've concluded that it's time for a fresh start and a new vision for the direction of the team," the metals mogul said after dismissing head coach Lionel Hollins and reassigning general manager Billy King within the organization.

"It's clear from our current state of affairs that we need new leadership. With the right basketball management and coach in place, we are going to create a winning culture...and give Brooklyn a team that it can be proud of and enjoy watching."

The Nets are on a four-game losing streak and have lost nine in a row at their home venue, the Barclays Center, which Prokhorov recently bought for their use.

Based on reporting by Reuters and AP