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NBA: Alibaba's Joe Tsai becomes NBA owner

NBA: Alibaba's Joe Tsai becomes NBA owner
Co-founder of global internet company Alibaba to buy remaining 51% team

By Fatih Erel

ISTANBUL (AA) - The NBA Board of Governors approved Wednesday the sale of the Brooklyn Nets to Joe Tsai.

"We are thrilled that Joe Tsai is becoming the principal owner and governor of the Brooklyn Nets," said Commissioner Adam Silver.

Tsai is co-founder of China-based global internet company Alibaba.

He will buy the remaining 51% of the Nets from Russian billionaire Mikhail Dmitrievitch Prokhorov.

Tsai had been holding 49% shares of the club.

source: News Feed
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