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Alibaba co-founder buys NBA team Brooklyn Nets, Barclays Center
short by Krishna Veera Vanamali / on Saturday, 17 August, 2019
Alibaba Co-Founder Joseph Tsai is buying a 51% stake that he doesn't already own in NBA's Brooklyn Nets and its Barclays Center arena from Russian billionaire Mikhail Prokhorov. Reports said Tsai paid about $3.5 billion, including debt, for the team and building. Tsai, who is worth about $10 billion, acquired a 49% stake in the team from Prokhorov last year.
read more at Reuters