Tycoon to challenge Putin for president

ONE of Russia’s richest tycoons and the owner of the New Jersey Nets basketball team, Mikhail Prokhorov said he will run against Prime Minister Vladimir Putin in the March presidential election.

Prokhorov has been cautious not to cross Putin’s path in the past, but the billionaire may pose a serious challenge to Putin, whose authority has been dented by alleged widespread fraud during Russia’s December 4 parliamentary election.

Putin’s party only won about 48% of that vote, compared to 64% four years ago, and the fraud allegations have allowed opposition parties to successfully mount massive anti-Putin protests in Russia.