Chinese Billionaire Joseph Tsai To Buy Brooklyn Nets From Mikhail Prokhorov, According To Report
Wednesday, 14 August 2019 A Chinese tycoon is poised to buy the Brooklyn Nets from a Russian oligarch. The NY Post reports that Joseph Tsai is expected to "buy the 51% of the Brooklyn Nets he does not already own from Russian billionaire Mikhail Prokhorov." The deal would be worth $2.35 billion, which would be a record for an NBA team. [ more › ]
Joseph Tsai, the co-founder of e-commerce company Alibaba who already owned 49 percent of the franchise, will purchase the remaining 51 percent from Russian billionaire Mikhail Prokhorov for a total of $2.35 billion. Katie Johnston reports.