Alibaba Group Holding Ltd co-founder Joseph Tsai is buying a 51% stake that he d...
FILE PHOTO: Joseph Tsai, Executive Vice Chairman of Alibaba Group, attends the Alibaba Group's 11.11 Singles' Day global shopping festival in Shanghai, China, November 11, 2017. REUTERS/Aly Song
- Alibaba Group Holding Ltd co-founder Joseph Tsai is buying a 51% stake that he doesn’t already own in NBA’s Brooklyn Nets and its Barclays arena from Russian billionaire Mikhail Prokhorov, the U.S basketball team said on Friday.Tsai had acquired a 49% stake in the team from Prokhorov in April last year.
Brooklyn Nets has been trying to come out of the shadows of storied franchise and local rival New York Knicks, whose home turf is the hugely popular Madison Square Garden. Nets signed former Most Valuable Player Kevin Durant, who led the Golden State Warriors to three consecutive NBA Finals, and fellow All Star Kyrie Irving this off-season.
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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.
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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.
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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.
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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...
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