Joe Tsai, who bought 49 percent of the Nets a little more than year ago for more than a billion dollars, will take control of the franchise, perhaps as early as week, the New York Post reported Tuesday night.
Brian Lewis and Josh Kosman reported that the final sale price will make the deal the most expensive ever paid in US sports history.
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.
Two league sources tell NetDaily the Post story is accurate.
The 55-year-old businessman who helped build Alibaba into Asia’s biggest e-commerce company, purchased 49 percent of the team in May 2018 with an option to buy the remaining 51 percent before the 2021-2022 basketball season. for an additional $1.35 billion.
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