RealGM

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

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

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?

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.