Joseph Tsai Rumors
Lin — who is Tsai’s favorite player — was dealt to Atlanta last month, but Tsai, Spencer Dinwiddie and Rondae Hollis-Jefferson all played in Lin’s “Hoops for Hope” charity game in Shenzhen, China, last weekend. Hollis-Jefferson got hurt in the game, but the team’s acknowledgement of the injury failed to mention Lin or the philanthropic event.
The Nets’ Twitter account — making a wise career decision — never mentioned Tsai by name, but quickly apologized for offending the new boss’ favorite player. And for his part, Tsai retweeted the apology.
Brooklyn Nets owner Mikhail Prokhorov has completed the sale of a 49% interest in the Brooklyn Nets to Joe Tsai. Mr. Tsai is executive vice chairman and co-founder of Alibaba Group, a global internet company with businesses in e-commerce, cloud computing and digital entertainment.
The transaction provides Mr. Tsai an option to acquire further shares in 2021 and, if exercised, become the controlling owner of the team. The announced share sale does not include Barclays Center, which will continue to be wholly owned by Onexim Sports and Entertainment. The NBA Board of Governors unanimously approved the transaction.
Mr. Prokhorov, through Onexim Sports and Entertainment Holding USA, Inc., will continue to be the controlling owner and the NBA Governor of the team. There will be no changes in the day-to-day management of the team’s business or basketball operations.