Brooklyn Nets on the verge of being bought by Alibaba

Currently the majority share-holder is Russian billionaire Mikhail Prokhorov.

August 14, 2019 09:23
Brooklyn Nets on the verge of being bought by Alibaba

Las Vegas, NV, USA; Brooklyn Nets guard Isaia Cordinier (28) dribbles against Minnesota Timberwolves forward Kelan Martin (30) during the second half of an NBA Summer League game against the Minnesota Timberwolves at Thomas & Mack Center.. (photo credit: REUTERS/ STEPHEN R. SYLVANIE-USA TODAY)

In what stands to be the biggest purchase in sports history until now, Taiwanese-Canadian billionaire Joseph Tsai reportedly means to buy the Brooklyn Nets for USD 2.35 billion, The New York Post reported. 
Tsai is one of the owners of Alibaba as well as a member of NBA China. 
The deal, when completed, will make Tsai the sole owner of the team as currently he owns 49% of the shares with Russian billionaire Mikhail Prokhorov owning the remaining 51%. 

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