New York (AFP)
The co-founder and vice president of Alibaba's online Chinese sales group, Jo Tsai, has become the new owner of the Brooklyn Nets, the NBA announced on Wednesday.
The candidacy of the Taiwan-Canadian businessman, who already held 49% of the US franchise since 2017, was unanimously approved by the NBA's owners. This was the last step to conclude this contract, worth an estimated $ 3.5 billion (€ 3.16 billion), including both the purchase of the club and its arena, the Barclays Center.
Tsai bought in 2017 nearly half of the stake of the Russian billionaire Mikhail Prokhorov, for 2.3 billion dollars (2.07 billion EUR), with an option to buy the remaining capital current until 2021.
The executive chose to exercise this option last month and will now chair the Brooklyn Nets, revitalized since the July takeover of two stars Kyrie Irving and Kevin Durant. Even though the latter should miss the 2019-2020 season due to his recent Achilles tendon rupture.
"We are delighted that Joe Tsai will become the main owner and manager of the Brooklyn Nets," responded in a statement Adam Silver, the commissioner of the NBA.
"In addition to being a big fan of basketball, Joe is one of the leading pioneers in e-commerce, internet and Chinese media and his expertise will be invaluable in the league's efforts to grow in China and other international markets, "added Silver.
© 2019 AFP