Billionaire Mikhail Prokhorov may be looking to step up his political profile ahead of the 2014 election into the Moscow City Legislature, says Izvestia.

      According to the newspaper, the businessman worth some $13 billion according to the Forbes list is considering to hand over control over the Brooklyn Nets to a charity he founded earlier.

      If made in compliance with national legislation, the move is expected to make Prokhorov eligible for elections, a career he wasn’t able to pursue due to a portfolio of foreign assets including the Brooklyn Nets.

      In 2009, he bought the New Jersey Nets to become the first foreign owner of a NBA team.

      During the next three years, he played a major role in revamping the team, a multi-million project that included the construction of a new center.

      Prokhorov made his debut in big-time politics in 2011 when he agreed to lead the Right Cause party at the parliamentary election. But after allegedly falling out with the Kremlin over some of the candidates he wanted to take along to the State Duma, he was ousted.

      He then ran for president, and was surprisingly ranked third. After that he has announced that he will put his wealth under the trusteeship of Onexim holding to focus on politics.

      In 2012, he set up and got registered the Civic Platform party which has since nominated candidates for a number of municipal elections.

      Read more about Prokhorov at: http://russia-ic.com/people/business_law/m/90#sthash.hh9dajpX.dpuf