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Alibaba's Joe Tsai Reportedly Has Deal For Minority Stake In NBA Brooklyn Nets

Alibaba Exec Vice-Chair Joe Tsai "reached an agreement in principle to purchase a 49 percent minority stake" in the NBA Brooklyn Nets that has the option to "acquire controlling interest ... in several years," according to Wojnarowski & Lowe of ESPN.com. The sources said that the price will be "based upon a $2.3 billion valuation of the team." Sources added that Mikhail Prokhorov will remain the team's principal and operating owner "for an additional four years, with a presumption that he will sell his majority stake upon the triggering of Tsai's option." Tsai will not "oversee any basketball or business operations as a minority partner." Sources said that those responsibilities will stay with Prokhorov "until he sells his majority stake." The deal "excludes the acquisition of the Barclays Center." Sources said that it is believed a "new long-term lease for the Nets will be negotiated in the near future." Sources added that Tsai has "expressed enthusiasm over the direction of the franchise" under GM Sean Marks and coach Kenny Atkinson and that he "plans to work on bridging his strong Asian business ties into global business opportunities" for the team (ESPN.com, 10/27). Alibaba earlier this month refuted reports that Tsai was in talks to buy a stake in the Nets (THE DAILY).

SBJ Morning Buzzcast: March 25, 2024

NFL meeting preview; MLB's opening week ad effort and remembering Peter Angelos.

Big Get Jay Wright, March Madness is upon us and ESPN locks up CFP

On this week’s pod, our Big Get is CBS Sports college basketball analyst Jay Wright. The NCAA Championship-winning coach shares his insight with SBJ’s Austin Karp on key hoops issues and why being well dressed is an important part of his success. Also on the show, Poynter Institute senior writer Tom Jones shares who he has up and who is down in sports media. Later, SBJ’s Ben Portnoy talks the latest on ESPN’s CFP extension and who CBS, TNT Sports and ESPN need to make deep runs in the men’s and women's NCAA basketball tournaments.

SBJ I Factor: Nana-Yaw Asamoah

SBJ I Factor features an interview with AMB Sports and Entertainment Chief Commercial Office Nana-Yaw Asamoah. Asamoah, who moved over to AMBSE last year after 14 years at the NFL, talks with SBJ’s Ben Fischer about how his role model parents and older sisters pushed him to shrive, how the power of lifelong learning fuels successful people, and why AMBSE was an opportunity he could not pass up. Asamoah is 2021 SBJ Forty Under 40 honoree. SBJ I Factor is a monthly podcast offering interviews with sports executives who have been recipients of one of the magazine’s awards.

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