NEW YORK (AP) The first step in what the New Jersey Nets hope is a quick turnaround is in place.

New owner Mikhail Prokhorov is eager to get started on the rest.

"For those who are already fans of the Nets and the NBA, I intend to give you plenty to cheer about," the Russian billionaire said in a statement.

Prokhorov's purchase of the team was approved Tuesday by NBA owners, who welcomed the first non-North American into their club. Russia's richest man agreed to buy 80 percent of the Nets and 45 percent of an arena project in Brooklyn from developer Bruce Ratner late last year.