Joseph Tsai, co-founder of Chinese e-commerce giant Alibaba, has made a deal to purchase full control of the NBA’s Brooklyn Nets from Russian businessman Mikhail Prokhorov, the club announced Friday.
The Nets said Prokhorov has made an agreement with the Taiwanese-Canadian businessman to sell the Barclays Center arena and his 51 percent controling interest in the Nets.
Tsai bought 49 percent of the Nets last year for $1 billion, with the chance to purchase more shares before the start of the 2021-22 campaign.
The deal, according to multiple reports, will cost Tsai $2.35 billion, the highest price ever paid for a US sports team.
Source: Yahoo Sports
Santiago Leon is the Founder and CEO of the Sports Cast. He covers almost every sport: NFL, NBA, and world soccer. He’s also founder of sleon productions, which he specializes in technology and serves clients with solutions to make their business grow.