Tag: Joseph Tsai

Alibaba co-founder Tsai set to own all of NBA Nets: reports

NEW YORK, United States (AFP) — Joseph Tsai, co-founder of Chinese e-commerce giant Alibaba, is expected to purchase full control of the NBA’s Brooklyn Nets from Russian businessman Mikhail Prokhorov, according to multiple reports Thursday. The New York Post, New York Times and ESPN reported a deal is close to completion that would have the Taiwanese-Canadian businessman buy the remaining 51 percent of the club he doesn’t currently own. Tsai bought 49 percent of the […]

NBA: Prokhorov to sell 49 percent of Nets to Alibaba co-founder – reports

NEW YORK, United States (AFP) — Joseph Tsai, one of the founders of Chinese e-commerce giant Alibaba, is set to buy 49 percent of the NBA’s Brooklyn Nets, US media reported Friday. ESPN and Newsday both reported that Russian billionaire Mikhail Prokhorov, who purchased controlling interest in the cub in 2009, has agreed to the sale. Although the Nets had the worst record in the NBA last season, a source told Newsday that the deal […]