Alibaba Co-Founder to Take Over as Brooklyn Nets Sole Owner
- 5 years ago
Alibaba Co-Founder to Take Over
as Brooklyn Nets Sole Owner In a deal with soon-to-be former owner
Mikhail Prokhorov, Joseph Tsai also now
owns Brooklyn's Barclays Center. The sale only needs approval by
the NBA's Board of Governors
to become official. Mikhail Prokhorov, via statement Prokhorov previously held the majority stake in the
Nets at 51% while Tsai had the remaining 49%. Tsai originally signed a deal in 2017 to eventually take over full ownership
of Brooklyn within four years. According to CNBC, the Nets are valued
at $2.35 billion, the highest price tag
in pro basketball history. It tops the previous record set in 2017, when the
Houston Rockets were bought for $2.2 billion
by businessman Tilman Fertitta. Tsai takes over at an exciting time for Brooklyn, who added Kyrie Irving and
Kevin Durant this offseason.
as Brooklyn Nets Sole Owner In a deal with soon-to-be former owner
Mikhail Prokhorov, Joseph Tsai also now
owns Brooklyn's Barclays Center. The sale only needs approval by
the NBA's Board of Governors
to become official. Mikhail Prokhorov, via statement Prokhorov previously held the majority stake in the
Nets at 51% while Tsai had the remaining 49%. Tsai originally signed a deal in 2017 to eventually take over full ownership
of Brooklyn within four years. According to CNBC, the Nets are valued
at $2.35 billion, the highest price tag
in pro basketball history. It tops the previous record set in 2017, when the
Houston Rockets were bought for $2.2 billion
by businessman Tilman Fertitta. Tsai takes over at an exciting time for Brooklyn, who added Kyrie Irving and
Kevin Durant this offseason.