Connect with us

Headlines

Sources: Joseph Tsai to Buy Remaining 51% of Brooklyn Nets

Basketball Insiders

Published

on

Joseph Tsai, the billionaire co-founder of e-commerce giant Alibaba, is close to signing a deal to buy the 51% of the Brooklyn Nets he does not already own from Russian billionaire Mikhail Prokhorov, sources told The Post.

The deal is expected to be announced this week, sources said.

The $2.35 billion transaction would mark the highest price ever paid for a sports franchise β€” beating hedge fund owner David Tepper’s $2.2 billion acquisition last year of the NFL’s Carolina Panthers and Tilman Fertitta’s $2.2 billion purchase of the NBA’s Houston Rockets in 2017.

Tsai already owns 49% of the team, which he bought for $1 billion last year. At that time, the 55-year-old businessman locked in the right to buy the remaining 51% of the team before the 2021-2022 basketball season for an additional $1.35 billion.

Source: Josh Kosman and Brian Lewis on Twitter

Advertisement




Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Headlines

Sources: Mavericks Gauging Trade Value of Kristaps Porzingis

Basketball Insiders

Published

on

The Dallas Mavericks set out to fortify their defense around Luka Doncic and their historic scoring attack this offseason.

Yet here the Mavericks stand, ninth in the Western Conference, ranking 27th in overall defense, and Kristaps Porzingis’ steady decline on that end of the floor appears to be the biggest dilemma this front office is now facing.

In fact, Dallas has quietly gauged the trade market for Porzingis, according to league sources, as the Mavericks have begun reevaluating whether the 25-year-old center can truly support Doncic as the second option on a contender. “They’ve kicked the tires on everybody on their roster that’s not named Luka,” one person with knowledge of Dallas’ thinking said. “You know [president of basketball operations] Donnie [Nelson]; they’re always tinkering.”

“They’ve definitely sniffed around on him,” an assistant general manager told B/R. “They’re taking the temperature, because they know at some point it’s gonna come around.”

Source: Jake Fischer of Bleacher Report

Continue Reading

Headlines

Sources: Timberwolves Dismiss Ryan Saunders

Basketball Insiders

Published

on

The Minnesota Timberwolves have dismissed coach Ryan Saunders, sources tell ESPN.

Source: Adrian Wojnarowski on Twitter

Continue Reading

Headlines

Sources: DeMarcus Cousins, Rockets to Part Ways

Basketball Insiders

Published

on

The Houston Rockets and center DeMarcus Cousins are planning to part ways in coming days, sources tell @TheAthletic @Stadium. Houston wants to go smaller, younger in frontcourt when Christian Wood returns and this allows Cousins to find an opportunity elsewhere.

Source: Shams Charania on Twitter

Continue Reading
Advertisement
Advertisement

ZigZagSport - Best Online Sportsbook & Casino

Advertisement
American Casino Guide
NJ Casino
NJ Casino

NBA Team Salaries

Advertisement

CloseUp360

Insiders On Twitter

NBA On Twitter

Trending Now