If approved, it would be the highest price ever paid for a sports franchise.

[tacobell fan]

• Alibaba co-founder Joseph Tsai is reportedly buying the remaining 51% of the Brooklyn Nets.
• The deal would value the team at $2.35 billion, the highest price ever paid for a sports franchise.
• The Brooklyn Nets is projecting revenue for the upcoming season to rise as much as 15%.

[tacobell fan]

Joseph Tsai, the billionaire co-founder of e-commerce giant Alibaba, is in talks to buy the remaining 51% of the Brooklyn Nets basketball team from Russian billionaire Mikhail Prokhorov, according to The New York Post.

The deal, which is expected to be announced this week, would value the team at $2.35 billion, according to unnamed sources cited by the New York Post.

 

If approved, it would be the highest price ever paid for a sports franchise. The current record came last year after hedge fund owner David Tepper acquired the NFL’s Carolina Panthers for $2.2 billion. Tilman Fertitta, owner of restaurant chain Landry’s, also paid $2.2 billion to purchase the NBA’s Houston Rockets in 2017.

Stuart Bryan, a spokeswoman for BSE Global, which manages and controls the Brooklyn Nets, declined to comment. CNBC couldn’t verify the details of the deal. 

Tsai already owns 49% of the Nets, which he bought for $1 billion in 2017. At that time, the 55-year-old businessman locked in the right to buy the remaining 51% of the team before the within four years for an additional $1.35 billion, Bloomberg News reported at the time.

That means that if Tsai signs off on the deal, he’d be exercising his right to buy the rest of the team from Prokhorov two seasons early.

The Nets recently completed an off-season buying blitz that included NBA All-Star free agents Kyrie Irving and Kevin Durant. The team is already projecting a revenue increase for the upcoming season of 10% to 15%, according to The New York Post.

[r2d2]

whoa re the 40 thieves? that aside.. Nets ki antha market potential vunda?  would be interesting to see how  the Irving & Durant combo performs...

[tacobell fan]

8 minutes ago, r2d2 said:

whoa re the 40 thieves? that aside.. Nets ki antha market potential vunda?  would be interesting to see how  the Irving & Durant combo performs...

They get money regardless. Business angle is different than Sportsmanship. 

[chittimallu_14]

53 minutes ago, r2d2 said:

whoa re the 40 thieves? that aside.. Nets ki antha market potential vunda?  would be interesting to see how  the Irving & Durant combo performs...

New Jersey Nets (now Brooklyn Nets) and New York Knicks have been nothing short of barbie doll teams in NBA.... No serious contention to win anything but are highly valuable beacuse of the location they are in 

[tacobell fan]

3 minutes ago, chittimallu_14 said:

New Jersey Nets (now Brooklyn Nets) and New York Knicks have been nothing short of barbie doll teams in NBA.... No serious contention to win anything but are highly valuable beacuse of the location they are in 

Crazy to pay for location that too on people 

[chittimallu_14]

20 minutes ago, tacobell fan said:

Crazy to pay for location that too on people 

Not really, basically ipudu the franchisee is hyped up because they have arguably the greatest player on the planet and Kyrie Irving. That should bring in a lot of hype, sponsorship deals, revenue, etc. Overall vaalla value and stock perigindhi with the addition of these new players. They might win or not that doesnt matter, winning will get more number of bandwagoners and lot more revenue anuko but I believe they are hyped  up a lot with the transfers they had this summer. 

[LazyRohit]

Maa Ravi shastri unlce ki inka ekkuva ippista ani King Kohli tweeted 

[r2d2]

34 minutes ago, chittimallu_14 said:

Not really, basically ipudu the franchisee is hyped up because they have arguably the greatest player on the planet and Kyrie Irving. That should bring in a lot of hype, sponsorship deals, revenue, etc. Overall vaalla value and stock perigindhi with the addition of these new players. They might win or not that doesnt matter, winning will get more number of bandwagoners and lot more revenue anuko but I believe they are hyped  up a lot with the transfers they had this summer. 

absolute truth.. we saw that with the Heat... nobody cares now...

[JollyBoy]

2 hours ago, r2d2 said:

whoa re the 40 thieves? that aside.. Nets ki antha market potential vunda?  would be interesting to see how  the Irving & Durant combo performs...

This year yes

[chittimallu_14]

Just now, r2d2 said:

absolute truth.. we saw that with the Heat... nobody cares now...

lakers, heat, warriors, everyone is the same

[JollyBoy]

22 minutes ago, LazyRohit said:

Maa Ravi shastri unlce ki inka ekkuva ippista ani King Kohli tweeted 

Manchidi.. iddaru oka apartment teesukuni kapuram pettamanu

[tacobell fan]

23 minutes ago, LazyRohit said:

Maa Ravi shastri unlce ki inka ekkuva ippista ani King Kohli tweeted