*From Bloomberg News reporters Crystal Tse, Gillian Tan, Ryan Gould, and Giles Turner:*
Members of the billionaire Koch family are in talks to acquire a stake in the National Basketball Association’s Brooklyn Nets, according to people with knowledge of the matter.
The discussions could also involve a stake in BSE Global, the Nets holding company that also owns Barclays Center, and the WNBA’s New York Liberty team, among other sporting assets, said one of the people, all of whom asked not to be identified discussing confidential information.
The talks are ongoing and there’s no assurance a deal will be reached, the people said. Terms of the transaction couldn’t immediately be learned.
The Nets’ majority owner is Alibaba Group Holding Ltd. co-founder Joseph Tsai, who bought 49% of the Nets in 2017 from Russian billionaire Mikhail Prokhorov, and purchased the remaining stake along with the Barclays Center arena in 2019 in what ultimately ended up as a $3.5 billion deal, including debt.
drjisftw
Who’s more unbearable, right-wing megamind or Chinese shill?
lopea182
TIL there’s not a lot of nice, down-to-earth billionaires that can buy professional teams
WorldTwisting
Koch, Devos oof
bb1432
This headline implies *not a controlling stake.* As in, the governorship of the team would not change.
This is just a minority ownership transaction rumor, which…
I could not possibly care any less about.
roronoaSuge_nite
Party’s over. Tell the rest of the crew
Important_Ad_6218
Tsai should know his market. Plenty of other investors to buy a share. If he sells to Koch, I will not renew and that is the last $ I spend.
twobridges94
Tsai following the Prokhorov model minus the moving the team part:
1. Trade a decade’s worth of draft picks for a shot at a title 2. Fail miserably 3. Sell the team and profit
KrustyKrabPizzaMan
Great. So we have Nazis coming into ownership along with the CCP members that already own the team. I guess we’re the newest evil sports team on Earth
JurgenFlippers
Can someone explain to a non American why they’re bad?
Federal-Eggplant4572
If you take public transit to a Nets game after the takeover one of the Koch brothers will personally shoot you in the head in the Arena.
Edwunclerthe3rd
It’s cheap I got good price for you, Mayor Koch “How I am doing”
HBOGOandRelax
Why does the NBA have the most progressive politics but the most regressive owners?
Scarlet--Highlander
Ah yes, the Cock brothers. David Cock and Bill Cock. From the wealthy Cock family.
desirox
I honestly wonder if the BLM integration of the bubble would have flown with this new current crop of owners
Mr_Jersey
The nets constantly being owned by a revolving door of scumbags.
Jsome2010
I hate being a fan of this team so much. The pain just keeps coming.
pericles123
how about no? Then again, there are a fair number of owners of major sports teams that are real-life douchebags, so maybe we can’t help it.
Danominator
Absolutely brutal. I would be super bummed if they bought my team. Hopefully it doesn’t work out
22 Comments
*From Bloomberg News reporters Crystal Tse, Gillian Tan, Ryan Gould, and Giles Turner:*
Members of the billionaire Koch family are in talks to acquire a stake in the National Basketball Association’s Brooklyn Nets, according to people with knowledge of the matter.
The discussions could also involve a stake in BSE Global, the Nets holding company that also owns Barclays Center, and the WNBA’s New York Liberty team, among other sporting assets, said one of the people, all of whom asked not to be identified discussing confidential information.
The talks are ongoing and there’s no assurance a deal will be reached, the people said. Terms of the transaction couldn’t immediately be learned.
The Nets’ majority owner is Alibaba Group Holding Ltd. co-founder Joseph Tsai, who bought 49% of the Nets in 2017 from Russian billionaire Mikhail Prokhorov, and purchased the remaining stake along with the Barclays Center arena in 2019 in what ultimately ended up as a $3.5 billion deal, including debt.
Who’s more unbearable, right-wing megamind or Chinese shill?
TIL there’s not a lot of nice, down-to-earth billionaires that can buy professional teams
Koch, Devos oof
This headline implies *not a controlling stake.* As in, the governorship of the team would not change.
This is just a minority ownership transaction rumor, which…
I could not possibly care any less about.
Party’s over. Tell the rest of the crew
Tsai should know his market. Plenty of other investors to buy a share. If he sells to Koch, I will not renew and that is the last $ I spend.
Tsai following the Prokhorov model minus the moving the team part:
1. Trade a decade’s worth of draft picks for a shot at a title
2. Fail miserably
3. Sell the team and profit
Great. So we have Nazis coming into ownership along with the CCP members that already own the team. I guess we’re the newest evil sports team on Earth
Can someone explain to a non American why they’re bad?
If you take public transit to a Nets game after the takeover one of the Koch brothers will personally shoot you in the head in the Arena.
It’s cheap I got good price for you, Mayor Koch “How I am doing”
Why does the NBA have the most progressive politics but the most regressive owners?
Ah yes, the Cock brothers. David Cock and Bill Cock. From the wealthy Cock family.
I honestly wonder if the BLM integration of the bubble would have flown with this new current crop of owners
The nets constantly being owned by a revolving door of scumbags.
I hate being a fan of this team so much. The pain just keeps coming.
how about no? Then again, there are a fair number of owners of major sports teams that are real-life douchebags, so maybe we can’t help it.
Absolutely brutal. I would be super bummed if they bought my team. Hopefully it doesn’t work out
Bring back Jay-Z
Can this team stop hurting me, please?
Gross