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  1. #1
    Join Date
    Nov 2008
    Location
    NEPA
    Posts
    3,026

    Brand New Owner for the Brooklyn Nets - Joseph Tsai!!

    I pulled this from NJ.com

    Joseph Tsai to purchase Brooklyn Nets: 6 things to know about new owner

    By Joe Giglio jgiglio@njadvancemedia.com,
    NJ Advance Media for NJ.com

    There's reportedly a new (very rich) sheriff coming to Brooklyn.

    According to ESPN's Adrian Wojnarowski and Zach Lowe, Taiwanese-Canadian businessman Joseph Tsai is set to purchase a 49-percent stake in the Nets--with the ability to become controlling owner within a few years.

    Here are six things to know about the soon-to-be Nets leader.

    Alibaba co-founder: Tsai is an e-commerce mogul. The company, Alibaba, he co-founded is the sixth-largest internet company by revenue.

    Net worth: Forbes estimated Tsai's net worth at $4.9 billion in 2016. The 49 percent purchase of the Nets is based on a recent $2.3 billion value of the team, per ESPN sources.

    No basketball responsibilities--yet: According to the ESPN report, Tsai will not oversee any business or basketball as part of his 49 percent stake in the Nets. If, or when, that percentage jumps, Tsai's power will. Tsai reportedly "expressed enthusiasm" over the Nets rebuilding direction with general manager Sean Marks and head coach Kenny Atkinson.

    Barclays Center not included: The deal does not include a stake in the building the Nets play in. This is strictly about buying the team and not the arena in which the games are played in Brooklyn.

    New Jersey ties: Before going on to study at Yale, Tsai went to Lawrenceville School in New Jersey, where he played high school football and lacrosse.

    Nets going global: Tsai's global business ties--especially in Asia--could help the Nets become an even bigger brand moving forward. According to the ESPN report, that's part of Tsai's thinking in purchasing the team.
    Last edited by wdwyer; 10-27-2017 at 03:02 PM.

  2. #2
    Join Date
    Jun 2012
    Posts
    72
    I'm pretty sure I read online somewhere that Marks is the lowest paid GM in the NBA. Job one for Tsai/Proky is to give that guy a big enough raise that he NEVER leaves. Atkinson should obviously stay as well, but Marks is the one they can't let get away of the two.

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