Basketball

Media: businessman Joseph Tsai is close to completing the deal to buy the NBA club “Brooklyn”

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DescriptionJoseph Tsai© AP Photo/Mary Altaffer

TASS, August 14. Chinese businessman Joseph Tsai is close to that to buy Russian businessman Mikhail Prokhorov’s remaining 51 percent stake in the club of the National basketball Association (NBA) “Brooklyn”. This publication reports the New York Post.

Last year a Chinese businessman acquired a 49% stake in the club for $1 billion. under the agreement, Cai may redeem at Prokhorov’s remaining share up to season 2021/22 for $1.35 billion, the Chinese businessman wanted to now take advantage of this right. It is expected that officially about the deal will be announced this week. In the offseason, “Brooklyn” strengthened the composition of the NBA – Kyrie Irving and Kevin Durant.

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Thus, the total amount of the transaction is $2.35 billion, it will be a record in the history of the sports industry. Previously, for $2.2 billion David Tepper bought the club in the National football League (NFL) Carolina, and Tilman Fertitta club of NBA “Houston”.

In March, the media reported that Cai intends to buy out Prokhorov arena Brooklyn Barclays Center in new York. Later, a source close to Prokhorov, told TASS that the information is untrue.

Prokhorov bought 80% stake in the club in 2009 for $223 million, then it was called “new Jersey nets”. In may 2010, the transaction was approved by NBA in April 2012, the League has given his consent to the transfer of the team to a new arena, located in the new York borough of Brooklyn, in connection with which the club changed its name and emblem. In 2015, Prokhorov made a deal to purchase the remaining 20% stake in the club and became the sole owner of “Brooklyn”.

Cai is one of the founders and current Vice President of Alibaba Group. Internet holding manages such sites as Aliexpress, Tmall.com, Taobao.com. A Chinese businessman, according to Forbes, is $9.9 billion.

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