Nets, Barclays Center Sold to Alibaba Billionaire Joe Tsai

The Brooklyn Nets and Barclays Center will have a new owner, after billionaire Joe Tsai struck a long-anticipated deal to buy the team and arena.

Tsai, the co-founder of Alibaba (China's equivalent to Amazon), will buy the Nets and their home court from Russian businessman Mikhail Prokhorov, the organization said Friday morning. 

• Warning Signs Missed? Mom, 23, Dies After 'Amazing' Trip

Tsai already owned 49 percent of the Nets, and a transaction for the full team and arena had been expected for some time. 

Born in Taiwan and also a Canadian citizen, Tsai is one of the world's 150 richest people, according to Forbes. 

• 7th NYPD Officer Dies by Suicide in 10 Weeks, Was Career Cop

Photo Credit: CSNPhilly.com

from NBC New York - Top Stories https://ift.tt/2YVj89O