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Closing Bell

Sources: Joe Tsai Will Pay $3.35B For Both Nets, Barclays Center

Joe Tsai will pay Mikhail Prokhorov about $2.35B for the Nets -- a record for a U.S. pro franchise -- and nearly $1B for Barclays Center in a "separate transaction," according to sources. The deal is "expected to be completed by the end of September and is subject to approval by the NBA’s Board of Governors." The deal would put Tsai in "full control of the team by the time the Nets head to China to play two exhibition games" against the Lakers in October (AP, 8/16). SI.com's goes with the header, "Mikhail Prokhrov Leaves A Complicated Legacy With The Nets" (SI.com, 8/16).

The deal allows Prokhorov to "retain control of NYCB Live’s Nassau Coliseum." Prokhorov’s Onexim Sports & Entertainment also is "retaining its ownership stake" in the proposed $1.5B commercial and residential redevelopment plans at Nassau HUB. Sources said that a partnership between Tsai's BSE Global and Prokhorov's Onexim Sports & Entertainment will "remain in place, with some BSE Global employees expected to share responsibilities across both venues" (NEWSDAY, 8/16).

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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