Joe Tsai To Buy Nets, Barclays Center For $3.5 Billion In Total

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Joe Tsai To Buy Nets, Barclays Center For $3.5 Billion In Total 

Post#1 » by RealGM Wiretap » Fri Aug 16, 2019 2:31 am

Joe Tsai will play approximately $3.5 billion for the Brooklyn Nets and Barclays Center.


Tsai's deal with Mikhail Prokhorov could be announced as soon as Friday.


BSE Chief Executive Officer Brett Yormark will announce his resignation.


Tsai previously bought a 49% stake of the team at a $2.3 billion valuation.


In 2010, Prokhorov paid $223 million for an 80 percent stake of the Nets and a 45 percent share of the arena. Prokhorov consolidated ownership of both the Nets and the arena that valued the assets at $1.7 billion.

Via Scott Soshnick/Bloomberg

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whoknows
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Re: Joe Tsai To Buy Nets, Barclays Center For $3.5 Billion In Total 

Post#2 » by whoknows » Fri Aug 16, 2019 8:29 pm

While is seems as overpaid, good move to invest safe money outside communist China
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Re: Joe Tsai To Buy Nets, Barclays Center For $3.5 Billion In Total 

Post#3 » by Aussienet3 » Sat Aug 17, 2019 11:20 am

whoknows wrote:While is seems as overpaid, good move to invest safe money outside communist China


No way and let me repeat, No way, is this an overpay for this franchise. The only real surprise is why didn't tsai buy up earlier?
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Re: Joe Tsai To Buy Nets, Barclays Center For $3.5 Billion In Total 

Post#4 » by BigHustle » Sun Aug 18, 2019 7:50 am

Joe is a great guy with lots of hustle and will bring some real views to the governors meetings. Very good in managing many constituencies in his day job. Will carry over well to the benefit of almost all teams.

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