[{"_1":2,"_85":-5,"_86":-5},"loaderData",{"_3":4,"_6":7},"root",{"_5":-5},"user","routes/tag.$slug",{"_8":9,"_74":75,"_82":77,"_83":65,"_84":66},"posts",[10],{"_11":12,"_13":14,"_15":16,"_17":18,"_19":20,"_21":22,"_23":24,"_25":26,"_27":28,"_29":30,"_31":32,"_33":-5,"_34":35,"_36":37,"_47":48,"_67":68,"_69":70,"_71":72,"_73":32},"documentId","hkf2zwiz3vo4kuay1nvi7j8c","title","Alibaba Co-founder Completes Acquisition of Brooklyn Nets","slug","alibaba-co-founder-completes-acquisition-of-brooklyn-nets","excerpt","Alibaba co-founder Joseph Tsai became the official owner of Brooklyn Nets by acquiring another 51% of its shares and the Barclays Center on September 19, according to Xinhua Sports.","content","\n

Alibaba co-founder Joseph Tsai became the official owner of Brooklyn Nets by acquiring another 51% of its shares and the Barclays Center on September 19, according to Xinhua Sports.

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\nhttps://twitter.com/BrooklynNets/status/1174359172617560065\n

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Tsai spent $1.35 billion for the rest shares including the arena, which is home to the Nets team. The total also makes Nets the most valuable team in the National Basketball Association (NBA).

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\nhttps://twitter.com/joetsai1999/status/1174351071977754624\n

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“We are thrilled that Joe Tsai is becoming the principal owner and governor of the Brooklyn Nets,” said Adam Silver, commissioner of the National Basketball Association. “In addition to being a passionate basketball fan, Joe is one of China’s preeminent internet, media and e-commerce pioneers and his expertise will be invaluable in the league’s efforts to grow the game in China and other global markets.”

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\"Joe — *Joe Tsai,* Alibaba *Executive Vice Chairman* (Source: Alizila)

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Tsai appointed David Levy, president of Turner Broadcasting Sales, Inc. and president of Turner Sports, to be the new CEO of the Brooklyn Nets and its arena.

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“We have a tremendous opportunity to capture the growth of sports globally. J Tsai Sports is in a unique position to leverage our global resources and a strong portfolio of sports, entertainment and technology holdings to create value for our existing franchises as well as invest in new ventures for growth,” Levy said in a team statement.

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Tsai started investing in the Nets in late 2017, ultimately purchasing 49% for about $1 billion in early 2018.

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The team will come to China to play two preseason games against the Lakers in Shanghai and Shenzhen.

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According to Forbes magazine, Tsai is worth 9.9 billion US dollars.

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Tag: #Barclays Center

Alibaba Co-founder Completes Acquisition of Brooklyn Nets