Russian billionaire Mikhail Prokhorov now owns the New Jersey Nets. Their record this season: 12-70.

Last night 60 Minutes profiled Russian billionaire Mikhail Prokhorov—the man coming to save your New Jersey Nets! Bloomberg Markets profiles him in next month's issue. Is a grand media coming-out party by a Russian billionaire really a good idea?

What else? Joe Francis might have had something to do with Tila Tequila/Casey Johnson. Angelie Jolie's latest production: Salt-y. Artie Lange has a gig, Lydia Hearst has a mans, Patti Smith's still punk. Presenting your Sunday Morning Gossip Roundup:

Some people have been a little troubled by the news a shady Russian billionaire is now buying up a local sports franchise (the Nets), as well as part of the arena that will eventually be the team's new home in Brooklyn. But not Jamie Johnson. The pharmaceutical heir and filmmaker thinks it's, like, the greatest news ever:

It's official. The richest man in Russia, Mikhail Prokhorov, has taken control of the New Jersey Nets. The 44-year-old oligarch, who is worth $9.5 billion according to Forbes, signed a $200 million deal today with real estate developer/Nets owner Bruce Ratner that will make him the principal owner of the team, as well as a major investor in the Nets' long-delayed new home in Brooklyn. This makes Prokhorov the first foreign owner of an NBA team who isn't Canadian, and the "the only NBA owner who can dunk," according to Prokhorov. And the tri-state area now has its very own Mark Cuban, clearly. [NYT]

Hey, so about the economy. It's not that good. And the overzealous real estate market is partially to blame. As consequence, overzealous realtor Bruce Ratner has admitted that the crisis will slow down his Atlantic Yards project. Go to any bar in south Brooklyn and start hating on Atlantic Yards and you'll be talking about developing, not destroying Brooklyn in the morning. Still, it must be said: the part of downtown Brooklyn that Ratner wants to destroy is a dump. Of course it's dubious that a Nets stadium, which Ratner wants to start construction on this year, will make the area any nicer. [NYT]