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 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.
