Alibaba Co-Founder Joe Tsai <br />Buys Brooklyn Nets<br />.<br />It's official. The Brooklyn Nets <br />have a new owner.<br />.<br />The NBA's board of governors unanimously approved Tsai's purchase of the Nets on Wednesday.<br />.<br />Tsai spent almost $3.5 billion <br />for the team and arena, the Barclays Center.<br />.<br />The sale is a new record for a <br />U.S. sports franchise.<br />.<br />David Levy, former Turner Sports president, <br />was hired by Tsai as the new CEO.<br />.<br />In addition to being a passionate basketball fan, Joe is one of China's pre-eminent <br />internet, media and e-commerce pioneers.<br />, Adam Silver, NBA commissioner, via statement.<br />His expertise will be invaluable in the league's efforts to grow the game in China and other global markets.<br />, Adam Silver, NBA commissioner, via statement.<br />The Nets will play two preseason games in China against the Los Angeles Lakers next month.<br />.<br />NBA superstars Kevin Durant and Kyrie Irving <br />both signed with the Nets this offseason.
