Alibaba billionaire buying Brooklyn Nets for record U.S. pro sports price
NEW YORK — Joe Tsai has agreed to buy the remaining 51 percent of the Brooklyn Nets and Barclays Center from Mikhail Prokhorov in deals that two people with knowledge of the details say are worth about $3.4 billion.
Tsai is the co-founder and executive vice president of the Alibaba Group BABA, +4.18% , the Chinese e-commerce giant. He already had purchased a 49 percent stake in the team from Prokhorov in 2018, with the option to become controlling owner in four years. Prokhorov, a Russian billionaire, became the NBA’s first non-North American owner in 2010 and oversaw the Nets’ move from New Jersey to Brooklyn two years later. He spent big in the first couple years after the move in a quest to chase a championship, but the team soon became one of the worst in the NBA before rallying to return to the playoffs last season.
The deal is expected to be completed by the end of September and is subject to approval by the NBA’s Board of Governors.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Alibaba billionaire Joseph Tsai is buying out the Brooklyn Nets in a $2.35 billion deal, and it's the highest price ever paid for a sports franchiseJoseph Tsai will buy out Russian financier Mikhail Prokhorov for $2.35 billion. That's the highest price ever paid for a sports franchise.
Baca lebih lajut »
Alibaba's Joe Tsai Set To Buy Brooklyn Nets And Barclays Center For Record $3.3 BillionThe sale of the Nets and its arena will smash the previous record for a sports team sale of $2.28 billion set last year for the NFL's Carolina Panthers.
Baca lebih lajut »
Alibaba's Tsai nears deal to buy rest of NBA's Brooklyn Nets: sourceAlibaba Group Holding Ltd co-founder Joseph Tsai is nearing a deal to buy the 51...
Baca lebih lajut »
Alibaba to buy Kaola unit from NetEase for $2 billion: CaixinAlibaba Group Holding Ltd has agreed to pay $2 billion in cash to buy Chinese e-...
Baca lebih lajut »
Joseph Tsai buys Barclays Center, becomes sole owner of Brooklyn NetsBrooklyn Nets owner Mikhail Prokhorov has agreed to sell full ownership of Barclays Center and his 51% controlling interest in the Nets to Alibaba co-founder Joseph Tsai.
Baca lebih lajut »