Alibaba Co-Founder Joe Tsai
Buys Brooklyn Nets
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It's official. The Brooklyn Nets
have a new owner.
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The NBA's board of governors unanimously approved Tsai's purchase of the Nets on Wednesday.
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Tsai spent almost $3.5 billion
for the team and arena, the Barclays Center.
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The sale is a new record for a
U.S. sports franchise.
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David Levy, former Turner Sports president,
was hired by Tsai as the new CEO.
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In addition to being a passionate basketball fan, Joe is one of China's pre-eminent
internet, media and e-commerce pioneers.
, Adam Silver, NBA commissioner, via statement.
His expertise will be invaluable in the league's efforts to grow the game in China and other global markets.
, Adam Silver, NBA commissioner, via statement.
The Nets will play two preseason games in China against the Los Angeles Lakers next month.
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NBA superstars Kevin Durant and Kyrie Irving
both signed with the Nets this offseason.