Alibaba Co-Founder Joe Tsai Buys Brooklyn Nets

Video Credit: Wibbitz Studio
Published on September 19, 2019 - Duration: 01:14s

Alibaba Co-Founder Joe Tsai Buys Brooklyn Nets

Alibaba Co-Founder Joe Tsai Buys Brooklyn Nets .

It's official.

The Brooklyn Nets have a new owner.

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The NBA's board of governors unanimously approved Tsai's purchase of the Nets on Wednesday.

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Tsai spent almost $3.5 billion for the team and arena, the Barclays Center.

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The sale is a new record for a U.S. sports franchise.

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David Levy, former Turner Sports president, was hired by Tsai as the new CEO.

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In addition to being a passionate basketball fan, Joe is one of China's pre-eminent internet, media and e-commerce pioneers.

, Adam Silver, NBA commissioner, via statement.

His expertise will be invaluable in the league's efforts to grow the game in China and other global markets.

, Adam Silver, NBA commissioner, via statement.

The Nets will play two preseason games in China against the Los Angeles Lakers next month.

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NBA superstars Kevin Durant and Kyrie Irving both signed with the Nets this offseason.

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