Russian billionaire Mikhail Prokhorov has officially agreed to sell his remaining stake in the Brooklyn Nets and full ownership of Barclays Center to Joe Tsai, the team said Friday with Nets will pay an additional $ 1.35 billion in 2018 the remaining 51 percent, as confirmed by ESPN earlier this week.
Purchased by Tsai, co-founder of Alibaba, one of the world's largest ecommerce companies, this purchase must be approved by the NBA Board of Governors, which has already approved the first transaction.
A statement by the Nets said that the transaction should be completed by the end of September, and that Brett Yormark, who served as CEO of the NBA Networks since 2005, will resign from his post after overseeing the transition to new ownership.
"I had the opportunity to witness the rebuilding of the Brooklyn grids that Mikhail started a few years ago," Tsai said in the statement. "He hired a front office and coach focused on player development, he supported the organization with all its resources and refused to refuel, and I will be the beneficiary of Mikhail's vision, which put the nets in a great competitive position." for which I am incredibly thankful.
"It was an honor and a success It's a pleasure to open the Barclays Center, the networks to Brooklyn Prokhorov said in the statement, "The team is better off today than ever, and I know that Joe will build on that success while continuing to provide the guest experience at the Barclays Center that our fans, employees and colleagues in the industry enjoy. "
The total value of the business ts for the $ 2.35 billion team (excluding the arena) is the largest purchase price for an American professional sports team, exceeding the $ 2.2 billion that David Tepper has acquired for the purchase of the Carolina Panthers and Tilman Fertitta has paid to buy the Houston Rockets.