Alibaba Co-Founder to Take Over <br />as Brooklyn Nets Sole Owner In a deal with soon-to-be former owner <br />Mikhail Prokhorov, Joseph Tsai also now <br />owns Brooklyn's Barclays Center. The sale only needs approval by <br />the NBA's Board of Governors <br />to become official. Mikhail Prokhorov, via statement Prokhorov previously held the majority stake in the <br />Nets at 51% while Tsai had the remaining 49%. Tsai originally signed a deal in 2017 to eventually take over full ownership <br />of Brooklyn within four years. According to CNBC, the Nets are valued <br />at $2.35 billion, the highest price tag <br />in pro basketball history. It tops the previous record set in 2017, when the <br />Houston Rockets were bought for $2.2 billion <br />by businessman Tilman Fertitta. Tsai takes over at an exciting time for Brooklyn, who added Kyrie Irving and <br />Kevin Durant this offseason.
