POST: JOE TSAI TO TAKE CONTROL OF NETS THIS WEEK

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.

Original Article Source
Author:

Net Income
DistinctAthlete.com is an entertaining sports site. The site specializes in viral sports content. Content includes controversial and original opinions, news stories, off-beat stories, humorous videos, entertaining photos, exclusive interviews, and witty banter between the writers and commenters. Distinct Athlete was launched in May of 2012 and has been featured and/or cited on several prominent sports sites.