What to Know
- The Brooklyn Nets and Barclays Center will have a new owner, after billionaire Joe Tsai struck a long-awaited deal to buy the team and arena
- Tsai already owned 49 percent of the Nets, and a transaction for the full team and arena had been expected for some time
- Born in Taiwan and also a Canadian citizen, Tsai is one of the world's 150 richest people, according to Forbes
The Brooklyn Nets and Barclays Center will have a new owner, after billionaire Joe Tsai struck a long-anticipated deal to buy the team and arena.
Tsai, the co-founder of Alibaba (China's equivalent to Amazon), will buy the Nets and their home court from Russian businessman Mikhail Prokhorov, the organization said Friday morning.
Tsai already owned 49 percent of the Nets, and a transaction for the full team and arena had been expected for some time.
Born in Taiwan and also a Canadian citizen, Tsai is one of the world's 150 richest people, according to Forbes.
