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Your email address will not be published.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: Marc Gasol, Lakers Agree to Deal

Basketball Insiders

Published

on

Free agent Marc Gasol has agreed to a deal with the Lakers, source tells @TheAthleticNBA @Stadium.

Source: Shams Charania on Twitter

Continue Reading

Headlines

Sources: Jayson Tatum, Celtics Agree to Extension

Basketball Insiders

Published

on

Jayson Tatum has agreed to a five-year, $195M extension with the Celtics, source tells ESPN.

Source: Adrian Wojnarowski on Twitter

Continue Reading

Headlines

Report: Donovan Mitchell, Jazz Agree to Extension

Basketball Insiders

Published

on

Utah Jazz All-Star guard Donovan Mitchell has agreed to a five-year, $195M designated rookie max extension, his agents Ty Sullivan and Austin Brown of @caa_sports tell ESPN. Story soon.

Source: Adrian Wojnarowski on Twitter

Continue Reading
Advertisement
Advertisement
American Casino Guide
NJ Casino
NJ Casino

NBA Team Salaries

Advertisement

CloseUp360

Insiders On Twitter

NBA On Twitter

Trending Now