Brooklyn Nets on the verge of being bought by Alibaba

Joseph Tsai will reportedly pay the highest price ever paid for a sports franchise in purchasing the Brooklyn Nets

That, indeed, will mark the highest price ever paid for a sports franchise beating the 2.2B that William Fertita spend two year ago to buy the Houston Rockets.

The agreement has been expected as Tsai had the option to purchase the rest of the franchise outright before the 2021-22 season. As Puccio and Begley relay, Nets forward Caris Levert has already revealed that it was Nets addition Kyrie Irving who organized the team workouts in which Anthony has participated. The total deal is expected to cost $2.35 billion and, per the Post, is expected to be announced this week.

Forbes estimates reveal that Tsai - the vice chair of Alibaba, the Chinese equivalent of Amazon - is worth $9.9 billion.

A Canadian citizen, Tsai is also in talks to buy the Barclays Center, home stadium of the Nets.

However, the sale of the team does not include the arena, but that does not preclude such a transaction from taking place in the future.

Just two years ago, the Nets were among the worst teams in the National Basketball Association, but they have since added Kevin Durant and Kyrie Irving to their ranks in a move likely to boost attendance and eventual profits for Tsai, according to the New York Post.

Prokhorov bought the Nets from real estate developer Bruce Ratner in 2010, allowing the team to complete its move into Brooklyn, and Barclays Center, in 2012. That comes after a 42-40 season and playoff appearance in 2018-19 that confounded most experts. Tsai is a member of NBA China, which conducts league business in that country, even though he doesn't yet control a team. The Taiwan native is known to speak positively of the Chinese government, sources said.



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