Joseph Tsai will buy out Russian financier Mikhail Prokhorov for $2.35 billion. That's the highest price ever paid for a sports franchise.
Billionaire Alibaba cofounder Joseph Tsai is buying the remaining shares of the Brooklyn Nets, the New York Post reported. The $2.35 billion deal for the New York-based NBA team is the highest ever for a sports franchise, according to the New York Times. Tsai is Alibaba's second-largest shareholder behind Jack Ma, giving him a net worth of $9.5 billion, according to Forbes. Visit Business Insider's homepage for more stories.
Billionaire Alibaba cofounder Joseph Tsai is buying the remaining shares of the Brooklyn Nets, the New York Post reported. The $2.35 billion deal for the New York-based NBA team is the highest ever for a sports franchise, according to the New York Times. Tsai is Alibaba's second-largest shareholder behind Jack Ma, giving him a net worth of $9.5 billion, according to Forbes. Visit Business Insider's homepage for more stories.
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