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New Nets owner won't keep GM Vandeweghe

New Nets owner Mikhail Prokhorov can add a GM search to his to-do list.

He says Kiki Vandeweghe is all but finished with the team, telling reporters "His contract is up and I wish him luck" at a brunch Wednesday morning, according to a report in The Star-Ledger .

Prokhorov, who was on hand at the NBA Draft Lottery Tuesday night, also says the team isn't holding out hope of landing Duke's Mike Krzyzewski as its next coach, saying "The new coach must have NBA experience. Coach K does not have NBA experience."

The new owner did give team president Rod Thorn a vote of confidence, saying a contract extension with Thorn is in the works.