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Joe Tsai becomes Nets & Barclays full majority owner for $3 billion; Brett Yormark resigns.

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Joe Tsai becomes Nets & Barclays full majority owner for $3 billion; Brett Yormark resigns. 

Post#1 » by Paradise » Wed Aug 14, 2019 2:03 am

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The dawn of a new era has officially begun.

Joseph Tsai, the billionaire co-founder of e-commerce giant Alibaba, is close to signing a deal to buy the 51 percent of the Brooklyn Nets he does not already own from Russian billionaire Mikhail Prokhorov, sources told The Post.

The deal is expected to be announced this week, sources said.

The $2.35 billion transaction would mark the highest price ever paid for a sports franchise — beating hedge fund owner David Tepper’s $2.2 billion acquisition last year of the NFL’s Carolina Panthers, and Tilman Fertitta’s $2.2 billion purchase of the NBA’s Houston Rockets in 2017.

Tsai already owns 49 percent of the team, which he bought for $1 billion last year. At that time, the 55-year-old businessman locked in the right to buy the remaining 51 percent of the team before the 2021-2022 basketball season, for an additional $1.35 billion.
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Re: Joe Tsai to buy all majority of the Nets for $2.3 billion 

Post#2 » by kamaze » Wed Aug 14, 2019 4:22 am

Good news if he spends like Prokhorov did on the team.

Tsai is a member of NBA China and the NBA, which is seeking to grow its presence there.
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Re: Joe Tsai to buy all majority of the Nets for $2.3 billion 

Post#3 » by MrDollarBills » Wed Aug 14, 2019 4:37 am

Joe Tsai did it. insane.

He has shown that he is fully onboard with the plan and culture that has been established under Kenny and Marks. This is just a peaceful transition of power and I thank Mikhail Prokhorov for the steps that were taken to get the Nets to this point.

I am very happy that the Nets are now fully owned by a person of color, and are now headlined by two of the best players in the NBA.
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Re: Joe Tsai to buy all majority of the Nets for $2.3 billion 

Post#4 » by gigantes » Wed Aug 14, 2019 7:51 am

It'd be real interesting to know what he has planned for the future. Obviously the franchise (set of franchises, arguably) is being run like a dream these days, but maybe he has some ideas about various things he could add. It would be unusual not to, really.

The only thing that gives me pause is Tsai's intimate association with Alibaba, and by some extension, the CCP, i.e. the greatest and most powerful autocracy in world history. China is now essentially at war with the rest of the world through various means (predatory lending, online propaganda via their wumao troll farms, recklessly developing military might in certain areas, such as the South China Sea, cyber espionage, and buying off / intimidating members of govts around the world, even including Australia, NZ, and Canada). They are utterly ruthless, take no moral responsibility, and have little regard for habitats or human rights (look at Tibet, Hong Kong, their impending invasion of Taiwan, or the Uhygur death & reeducation camp madness), and their long-term goal is to supplant the USA and wrest global control away from the West. Yes, really.

That said, it's hard for me to imagine how much mischief they could make via Alibaba, or Tsai's Nets holdings. It's not exactly a Huawei devices situation. I would think as long as Silver and the league keep a benevolent eye on the situation, things should be fine for the time being.
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Re: Joe Tsai to buy all majority of the Nets for $2.3 billion 

Post#5 » by Prokorov » Wed Aug 14, 2019 12:04 pm

gigantes wrote:It'd be real interesting to know what he has planned for the future. Obviously the franchise (set of franchises, arguably) is being run like a dream these days, but maybe he has some ideas about various things he could add. It would be unusual not to, really.

The only thing that gives me pause is Tsai's intimate association with Alibaba, and by some extension, the CCP, i.e. the greatest and most powerful autocracy in world history. China is now essentially at war with the rest of the world through various means (predatory lending, online propaganda via their wumao troll farms, recklessly developing military might in certain areas, such as the South China Sea, cyber espionage, and buying off / intimidating members of govts around the world, even including Australia, NZ, and Canada). They are utterly ruthless, take no moral responsibility, and have little regard for habitats or human rights (look at Tibet, Hong Kong, their impending invasion of Taiwan, or the Uhygur death & reeducation camp madness), and their long-term goal is to supplant the USA and wrest global control away from the West. Yes, really.

That said, it's hard for me to imagine how much mischief they could make via Alibaba, or Tsai's Nets holdings. It's not exactly a Huawei devices situation. I would think as long as Silver and the league keep a benevolent eye on the situation, things should be fine for the time being.


is the us no longer having global control a bad thing?
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Re: Joe Tsai to buy all majority of the Nets for $2.3 billion 

Post#6 » by MrDollarBills » Wed Aug 14, 2019 12:44 pm

gigantes wrote:It'd be real interesting to know what he has planned for the future. Obviously the franchise (set of franchises, arguably) is being run like a dream these days, but maybe he has some ideas about various things he could add. It would be unusual not to, really.

The only thing that gives me pause is Tsai's intimate association with Alibaba, and by some extension, the CCP, i.e. the greatest and most powerful autocracy in world history. China is now essentially at war with the rest of the world through various means (predatory lending, online propaganda via their wumao troll farms, recklessly developing military might in certain areas, such as the South China Sea, cyber espionage, and buying off / intimidating members of govts around the world, even including Australia, NZ, and Canada). They are utterly ruthless, take no moral responsibility, and have little regard for habitats or human rights (look at Tibet, Hong Kong, their impending invasion of Taiwan, or the Uhygur death & reeducation camp madness), and their long-term goal is to supplant the USA and wrest global control away from the West. Yes, really.

That said, it's hard for me to imagine how much mischief they could make via Alibaba, or Tsai's Nets holdings. It's not exactly a Huawei devices situation. I would think as long as Silver and the league keep a benevolent eye on the situation, things should be fine for the time being.


All good points to raise about China, but I think we can, at least from an NBA standpoint, separate Joe Tsai from the actions of the Chinese government. It's not like we have proof that he's sitting there calling for Muslims to be put into death camps, or has any say in what Xi Jinping is doing. Regarding their long term goal of becoming the world's primary super power, they really don't have to work too hard at it since the United States is currently **** ing itself into oblivion and irrelevancy globally.

Personally everything I've seen from Tsai so far has been pretty upbeat and positive.

Anyway, I view this as kind of similar to how Mikhail Prokhorov is a Russian billionaire and you know that you don't get to that status unless you're down with the Russian mob, which runs the country. It is what it is, but as long as he passes the NBA's strict vetting process for ownership I have no problems with it. Under his watch the Nets have become one of the more progressive franchises in the NBA.
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Re: Joe Tsai to buy all majority of the Nets for $2.3 billion 

Post#7 » by SpeedyG » Wed Aug 14, 2019 1:34 pm

In a way Tsai is a "slight" improvement over Prokorov from an international political issue. Keep in mind Prokorov is Russian, and there were tons of rumors how he acquired his wealth (basically through a lot of shady means, as with many Russian oligarchs who obtained insane wealth at the time).

Tsai, while he has ties with China...he's from Canada(IIRC) and his kids go/went to a California HS.

This is, by all intents and purposes, a North American who owns/runs an international business.

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Re: Joe Tsai to buy all majority of the Nets for $2.3 billion 

Post#8 » by gigantes » Wed Aug 14, 2019 2:26 pm

Prokorov wrote:is the us no longer having global control a bad thing?

Arguably not, and the US itself is responsible for a litany of ruthless manipulations of countries and exploitation of people around the world, through much of the 20th century.

That said, I think it's pretty clear that China is even worse, probably a lot worse, and their particular war is much more of an active threat to the rest of the world.

My personal take is-- after the US gets what it wants from another country, it will usually look to build regional democracy and maintain various aid and support in return. Sort of a vassal state thing, I guess. China, by contrast, is perhaps more insidious. They'll buy off politicians from the inside and get them to sign up for fancy Belt & Road lending projects for building new infrastructure. Then they'll import Han Chinese to run the projects, displacing as many of the locals as possible, and creating a return economy with its own citizens that provides zero real benefit to the locals and the local nation. Meanwhile, they'll ensure that the building project fails, forcing the unfortunate nation to default, allowing China to seize assets and territory, getting a major foothold. Various key ports around Africa and Asia have already fallen this way. That's the predatory lending stuff.

They'll basically gut you from the inside with far worse repercussions than if you had merely become a Western vassal nation. They'll defer the bloodshed that the US usually brings upfront via stirring up revolutions and such.


MrDollarBills wrote:All good points to raise about China, but I think we can, at least from an NBA standpoint, separate Joe Tsai from the actions of the Chinese government. It's not like we have proof that he's sitting there calling for Muslims to be put into death camps, or has any say in what Xi Jinping is doing. Regarding their long term goal of becoming the world's primary super power, they really don't have to work too hard at it since the United States is currently **** ing itself into oblivion and irrelevancy globally...

It's not so much that I have any suspicions about Joe Tsai. If he's like most Taiwanese, he's no doubt extremely distrustful of the CCP.

The problem is that the CCP treats all Chinese enterprises (of which Alibaba is one) and citizens abroad as potential pawns & resources to be used as they see fit. We're already seeing this for example in countries where locals speak up about some particular ongoing Chinese f-ckery, like Hong Kong or Xinjiang, where a swarm of local Chinese will be directed to in turn harass the protesters. This is happening even in first world Western countries, btw. One recent example was an Uyghur refugee in Canada who was slated to speak at a conference, sharing her experiences and so forth. Somehow China got her shut down, and she wasn't able to speak. IIRC she fears for her life, now. That's how that works.

No matter where you live in the world, if you have links to China or family back there, you are likely on the CCP's list, and they expect you not to question the CCP at the very least. But if they do happen to contact you, evidently they expect more, such as getting involved in counter-protests (harassment, really) against locals, or stuff like espionage. Coincidentally, around the same time, your family members back home will strongly encourage you to be a good patriot, etc. So yeah, as Orwellian as the situation here has been the past three years, the China situation is far more terrifying.

Most of America is still only vaguely aware of this stuff, strangely. Then again, seems to me that Americans have a history of not paying much attention to what's going on around the world. Probably goes hand in hand with the traditional practice of America imposing its will to get what it wants, therefore it doesn't matter in some ways. China is a big emergingly-powerful country tho, and what changed with them is that Emperor Xi decided to do a 180 from the patient, democracy-building approach of his predecessors. The new China is hyper-aggressive and coming after us, with a huge population of borderline brainwashed citizens to serve as the foot soldiers, both for export and for internet f-ckery.
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Re: Joe Tsai to buy all majority of the Nets for $2.3 billion 

Post#9 » by gigantes » Wed Aug 14, 2019 2:29 pm

Source-- I'm something of a China watcher. Just an amateur, of course, but it's pretty hard to miss this stuff if you've been following along the past couple years.

r/China can be kind of topsy-turvy, but it still bags a lot of good sources and provides a lot of first-hand testimonials and helpful analysis.
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Re: Joe Tsai to buy all majority of the Nets for $2.3 billion 

Post#10 » by kamaze » Wed Aug 14, 2019 2:44 pm

gigantes wrote:
Prokorov wrote:is the us no longer having global control a bad thing?

Arguably not, and the US itself is responsible for a litany of ruthless manipulations of countries and exploitation of people around the world, through much of the 20th century.

That said, I think it's pretty clear that China is even worse, probably a lot worse, and their particular war is much more of an active threat to the rest of the world.

My personal take is-- after the US gets what it wants from another country, it will usually look to build regional democracy and maintain various aid and support in return. Sort of a vassal state thing, I guess. China, by contrast, is perhaps more insidious. They'll buy off politicians from the inside and get them to sign up for fancy Belt & Road lending projects for building new infrastructure. Then they'll import Han Chinese to run the projects, displacing as many of the locals as possible, and creating a return economy with its own citizens that provides zero real benefit to the locals and the local nation. Meanwhile, they'll ensure that the building project fails, forcing the unfortunate nation to default, allowing China to seize assets and territory, getting a major foothold. Various key ports around Africa and Asia have already fallen this way. That's the predatory lending stuff.

They'll basically gut you from the inside with far worse repercussions than if you had merely become a Western vassal nation. They'll defer the bloodshed that the US usually brings upfront via stirring up revolutions and such.


If you're in a land being occupied it's pick your oppressor the US or China. Either way it's foreigners taking over a country.
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Re: Joe Tsai to buy all majority of the Nets for $2.3 billion 

Post#11 » by gigantes » Wed Aug 14, 2019 3:09 pm

kamaze wrote:If you're in a land being occupied it's pick your oppressor the US or China. Either way it's foreigners taking over a country.

Yes and no.

I think the US is basically interested in creating favorable trade relationships for itself and maintaining the Western sphere of military checks and balances against nations like the USSR / Russia, China, and various Middle East players. For sure, that might involve propping up some nasty, rights-abusing regimes. It can definitely suck across many levels.

But beyond that, the US isn't all that interested in coming in to your country, displacing your peoples, and gaining control of your holdings the way China is.

The US (for better or worse) also has immense soft power, and millions of people really do admire the American way of life and wish to live like them, pursuing happiness the way Americans are nominally free to. I actually think that's somewhat disastrous in the long run (nobody should be living the resource-consuming way Americans do, including Americans), but it does solve a lot of friction issues with other peoples. China, by contrast, has poor soft power. Nobody in their right mind would want to live in a surveillance state, or be disappeared for making a careless remark.

Hong Kong is a pretty fascinating ongoing example of what it's like when China gains a major foothold in to your country.
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Re: Joe Tsai to buy all majority of the Nets for $2.3 billion 

Post#12 » by ecuhus1981 » Wed Aug 14, 2019 3:52 pm

On the subject of recklessly developing military might... let's not throw stones. We live in the glassiest house.

I'm happy for Mikhail, and for Joe. It's a good day for the Nets!
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Re: Joe Tsai to buy all majority of the Nets for $2.3 billion 

Post#13 » by Durant Durant » Wed Aug 14, 2019 5:03 pm

insane amount of money for the purchase prolly spurred by the possibility of winning seasons with KD and Kyrie.
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Re: Joe Tsai to buy all majority of the Nets for $2.3 billion 

Post#14 » by MrDollarBills » Wed Aug 14, 2019 6:24 pm

gigantes wrote:
Prokorov wrote:is the us no longer having global control a bad thing?

Arguably not, and the US itself is responsible for a litany of ruthless manipulations of countries and exploitation of people around the world, through much of the 20th century.

That said, I think it's pretty clear that China is even worse, probably a lot worse, and their particular war is much more of an active threat to the rest of the world.

My personal take is-- after the US gets what it wants from another country, it will usually look to build regional democracy and maintain various aid and support in return. Sort of a vassal state thing, I guess. China, by contrast, is perhaps more insidious. They'll buy off politicians from the inside and get them to sign up for fancy Belt & Road lending projects for building new infrastructure. Then they'll import Han Chinese to run the projects, displacing as many of the locals as possible, and creating a return economy with its own citizens that provides zero real benefit to the locals and the local nation. Meanwhile, they'll ensure that the building project fails, forcing the unfortunate nation to default, allowing China to seize assets and territory, getting a major foothold. Various key ports around Africa and Asia have already fallen this way. That's the predatory lending stuff.

They'll basically gut you from the inside with far worse repercussions than if you had merely become a Western vassal nation. They'll defer the bloodshed that the US usually brings upfront via stirring up revolutions and such.


China is also doing this in The Caribbean.
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Re: Joe Tsai to buy all majority of the Nets for $2.3 billion 

Post#15 » by gigantes » Wed Aug 14, 2019 8:35 pm

MrDollarBills wrote:China is also doing this in The Caribbean.

I had not heard that. How is that working, do you know?
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Re: Joe Tsai to buy all majority of the Nets for $2.3 billion 

Post#16 » by MrDollarBills » Wed Aug 14, 2019 8:41 pm

gigantes wrote:
MrDollarBills wrote:China is also doing this in The Caribbean.

I had not heard that. How is that working, do you know?


Local contractors in Barbados got **** ed hard. They can't compete since the Chinese are also coming in with cheap costing materials.
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Re: Joe Tsai to buy all majority of the Nets for $2.3 billion 

Post#17 » by Claud » Wed Aug 14, 2019 8:42 pm

China is doing this world wide. They have a plan to dominate the trade routes during this century. They are building modern silk road.
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Re: Joe Tsai to buy all majority of the Nets for $2.3 billion 

Post#18 » by MrDollarBills » Thu Aug 15, 2019 2:33 am

Claud wrote:China is doing this world wide. They have a plan to dominate the trade routes during this century. They are building modern silk road.


As I told a friend of mine the other day when discussing China's geopolitical movement, they are about to become the world's #1 super power without firing a single gun shot or missile. Meanwhile, the United States is being destroyed from the inside by the very thing that it was built upon: white supremacy. It's fitting to be honest.

I don't have much hope for the world either way tbh. I think we've gone past the point of being able to prevent the oncoming climate change...we're all going to either burn or drown as the Earth cleanses itself of the virus known as humanity.
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Re: Joe Tsai to buy all majority of the Nets for $2.3 billion 

Post#19 » by gigantes » Thu Aug 15, 2019 1:44 pm

MrDollarBills wrote:As I told a friend of mine the other day when discussing China's geopolitical movement, they are about to become the world's #1 super power without firing a single gun shot or missile. Meanwhile, the United States is being destroyed from the inside by the very thing that it was built upon: white supremacy. It's fitting to be honest.

I don't have much hope for the world either way tbh. I think we've gone past the point of being able to prevent the oncoming climate change...we're all going to either burn or drown as the Earth cleanses itself of the virus known as humanity.

Wow, I hadn't heard the situation expressed like that before. It really is totally fitting.

As for the climate change stuff, we're certainly headed for a fast collapse. My only hope is that in the next couple years, some research team will come up with a practical carbon capture & sequestration technology, then the richer governments will hopefully cooperate to quickly put it in place. This is probably the only way those of us alive right now will have even a chance to live out our natural lifespans.

I was also reading the other day that the pollution created by fossil fuels has a surprisingly powerful albedo effect. That at this point, going fully green at the industrial level would actually significantly worsen the climate effects we're already suffering. That's evidently how far down the rabbit hole we've gone.
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Re: Joe Tsai to buy all majority of the Nets for $2.3 billion 

Post#20 » by MrDollarBills » Thu Aug 15, 2019 4:21 pm

gigantes wrote:
MrDollarBills wrote:As I told a friend of mine the other day when discussing China's geopolitical movement, they are about to become the world's #1 super power without firing a single gun shot or missile. Meanwhile, the United States is being destroyed from the inside by the very thing that it was built upon: white supremacy. It's fitting to be honest.

I don't have much hope for the world either way tbh. I think we've gone past the point of being able to prevent the oncoming climate change...we're all going to either burn or drown as the Earth cleanses itself of the virus known as humanity.

Wow, I hadn't heard the situation expressed like that before. It really is totally fitting.

As for the CC change stuff, we're definitely headed for a fast collapse. My only hope is that in the next couple years, some research team will come up with a practical carbon capture & sequestration technology, then the richer governments will hopefully cooperate to quickly put it in place. This is probably the only way those of us alive right now will have even a chance to live out our natural lifespans.

I was also reading the other day that the pollution created by fossil fuels has a surprisingly powerful albedo effect. That at this point, going fully green at the industrial level would actually significantly worsen the climate effects we're already suffering. That's evidently how far down the rabbit hole we've gone.


It is fitting, and it's in line with Russia's playbook from "The Foundations of Geopolitics" by Aleksandr Dugin, where the plan was to destroy America from within by it's own racial and ethnic divisions. It's working (and as a side note, one of the other plans listed was to cut the UK off from Europe...who was amplifying a lot of pro Brexit propaganda? Russian trolls).

If the 1st world governments don't cooperate on climate change, we are all going to die. This requires the United States to regain some semblance of world leadership on the global stage...which is why the 2020 election isn't just about getting Trump out, its about purging the US Government of all anti-science presence that has infected it since 2017. We need to get the crazies the hell out or its curtains.
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