Billionaire oligarch Mikhail Prokhorov, Russia’s richest man well-known as a sports fan, could become the first foreign owner of a major US basketball team after making a bid for the New Jersey Nets.

Prokhorov had offered to fund a new $700m stadium for the NBA team in New York and he would then acquire the Nets for a symbolic $1 stake.

He boasts that if his move is successful, it would be the first time a National Basketball Association club would come under foreign control.

Forbes says that the most expensive zip code for 2009 is 07620, Alpine, New Jersey.

The tiny New Jersey town ranked No. 1 with a median price of $4.14 million for one of its luxurious mansions.

The affluent borough, with a median household income of $128,287, topped Forbes’ list despite housing prices falling 23 percent over the past year.