There were reports earlier this year that Tsai also is trying to buy the Nets' arena, Barclays Center in Brooklyn. A deal announcing that he has purchased the remaining 51 percent stake is expected to be announced later this week, according to the report. He also owns the San Diego Seals, a box lacrosse franchise in the National Lacrosse League.
Tsai's deal to buy a minority stake in the Nets granted him the option to purchase controlling interest from Prokhorov by the 2021 season.
The $2.35-billion figure becomes the most expensive purchase for a North American sports franchise, surpassing the $2.2-billion acquisitions of the Carolina Panthers and Houston Rockets - both in 2018.
Tsai originally purchased 49% of the Nets previous year for $1 billion with the option to buy the remaining shares from Mikhail Prokhorov by the 2021-22 season.
Prokhorov bought the Nets in 2010 and the Russian oversaw the Nets' move from New Jersey to Brooklyn.
This summer has been a massive one for the Nets, as they reeled two of the biggest names in free agency: forward Kevin Durant and guard Kyrie Irving.
Even though Durant is expected to miss the upcoming season after tearing his Achilles while playing for the Golden State Warriors in June's NBA Finals, the Nets have still set a number of ticket marks since his signing.
Per Forbes, Tsai's estimated net worth is $9.3 billion.
Why is Rajamouli Silent on Saaho Trailer?
The much-awaited trailer of Prabhas's upcoming film Saaho was unveiled today (August 10) with extravagant visuals. Thus you have many more reasons to make this film a bit hit in the coming days when it finally hits the screen.
Perseids Meteor Shower Reaches Peak
As the comet swings around the Sun every 133 years, bits and pieces of rock and dust break off under the Sun's intense heat. The added moonlight will serve to drown numerous meteors during the overnight hours into the wee hours of Wednesday.