Alibaba co-founder unanimously approved as new owner of Brooklyn Nets

first_imgTaiwanese/Canadian businessman Joe Tsai (R), his wife Clara Wu (L) and children Dash Tsai, Jacob Tsai and Alex Tsai arrive for the 2019 NBA Awards at Barker Hangar on June 24, 2019 in Santa Monica, California. (Photo by LISA O’CONNOR / AFP)Alibaba Group co-founder and executive vice-chairman Joe Tsai, a Canadian-Taiwanese billionaire, has been unanimously approved by NBA owners as the new owner of the Brooklyn Nets.Backing of the NBA’s board of governors was the final step to complete the deal, worth a reported $3.5 billion, for Tsai to buy the club and its arena, the Barclays Center.ADVERTISEMENT Taal Volcano’s lava fountain weakens, but Phivolcs says it’s not sign of slowing down Durant will miss the upcoming 2019-20 campaign after suffering a torn right Achilles tendon but the forward could combine with Irving, a former standout at Cleveland and Boston, to produce a formidable inside-outside tandem.The Nets lost to Philadelphia in the first round of last season’s NBA playoffs after a 42-40 regular season. They had not reached the playoffs since 2015. The club has won only one playoff series since 2007.Silver thanked Prokhorov and former Nets executive Dmitry Razumov for contributions to the team and community, adding, “they leave a thriving team well-positioned for the future.”ADVERTISEMENT LATEST STORIES Robredo to visit Batangas families displaced by Taal erruption LOOK: Kryz Uy, Slater Young expecting first son Daybreak as smoke, ash billows from Taal volcano PLAY LIST 01:04Daybreak as smoke, ash billows from Taal volcano01:05Poor visibility, nakaapekto sa maraming lugar sa Batangas03:028,000 pulis sa Region 4-A, tuloy ang trabaho03:57Phivolcs, nahihirapan sa komunikasyon sa Taal01:04Sold-out: Stores run out of face masks after Taal spews ash01:45Iran police shoot at those protesting plane shootdown Tsai had invested in the Nets in October 2017 when he purchased a 49 percent stake in the club from Russian billionaire Mikhail Prokhorov for $2.3 billion with an option to buy the rest of the franchise no later than 2021.Tsai exercised that option last month and will now oversee a revitalized club that made the first major off-season player deal this year by landing two-time NBA Finals Most Valuable Player Kevin Durant and star guard Kyrie Irving.FEATURED STORIESSPORTSAndray Blatche has high praise for teammate Kai SottoSPORTSBig differenceSPORTSAlmazan status stays uncertain ahead of Game 4“We are thrilled that Joe Tsai is becoming the principal owner and governor of the Brooklyn Nets,” NBA Commissioner Adam Silver said in a statement.“In addition to being a passionate basketball fan, Joe is one of China’s preeminent internet, media and e-commerce pioneers and his expertise will be invaluable in the league’s efforts to grow the game in China and other global markets.” Don’t miss out on the latest news and information. No need to wear face masks in Metro Manila, says scientistcenter_img Sports Related Videospowered by AdSparcRead Next Teen dead, another hurt in vehicular collision in Santiago City LOOK: Taal Volcano island 2 days after eruption Heart Evangelista, Kim Chiu, more celebs appeal for animal rescue after Taal eruption ‘People evacuated on their own’ PH bet Eumir Marcial barges into World Boxing championship semifinals MOST READ View commentslast_img

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