Please select your default edition
Your default site has been set for 7 days

Alibaba co-founder Joseph Tsai close to deal to become sole owner of Brooklyn Nets

Friday 16 August 2019 17:16, UK

Brooklyn Nets owner Joseph Tsai courtside at a New York Liberty game
Image: Brooklyn Nets owner Joseph Tsai courtside at a New York Liberty game

Joseph Tsai plans to buy the remainder of the Brooklyn Nets from Mikhail Prokhorov and become sole owner of the NBA franchise, according to reports.

Sync NBA fixtures to your phone

Sync NBA fixtures to your phone

Sync your team's 2019-20 NBA schedule, plus NBA Saturdays and NBA Sundays, to your phone's calendar

When Tsai purchased 49 per cent of the team last year for $1 billion, he locked in the right to buy the remaining 51 per cent before the 2021-22 season for $1.35 billion, according to the New York Post.

Follow Sky Sports NBA on Twitter

Follow Sky Sports NBA on Twitter

See the NBA's best plays and stay up to date with the latest news

The combined $2.35 billion transaction would be the highest price ever paid for a sports franchise in the United States.

Kyrie Irving and Kevin Durant share a joke at the 2019 All-Star weekend
Image: Brooklyn Nets acquisitions Kyrie Irving and Kevin Durant share a joke at the 2019 All-Star weekend

David Tepper paid $2.2 billion for the NFL's Carolina Panthers last year, the same amount Tilman Fertitta spent for the NBA's Houston Rockets in 2017.

Join our NBA group on Facebook

Join our NBA group on Facebook

Sign up and join the NBA conversation in our Facebook group

Tsai, 55, is the co-founder of the Chinese shopping website Alibaba. He also owns the WNBA's New York Liberty.

Get NBA news on your phone

Get NBA news on your phone

Want the latest NBA news, features and highlights on your phone? Find out more

The Post said the deal will be announced this week. The Nets declined to comment on the story.

More on this story

Want to watch the NBA and WNBA but don't have Sky Sports? Get the Sky Sports Action and Arena pack, click here.