Prokhorov could be one of several potential candidates. The list includes former Russian president Vladimir Putin, who served from 2000-08 and is the current prime minister.
"This is the most important decision of my life," said Prokhorov on his personal blog. "Thanks to everyone who has supported me."
Prokhorov, reportedly among the wealthiest men in Russia, became the first non-North American owner of an NBA franchise in May 2010 when he purchased a majority stake in the Nets from Bruce Ratner.