Alibaba founder buys Barclays Center
Senior Alibaba Group exec Joseph Tsai buys AEG Facilities- and BSE Global-operated Barclays Center and basketball team the Nets
News By | 19 August 2019
After months of negotiations, Joseph Tsai, executive vice-chairman of Chinese e-commerce giant Alibaba Group, has bought the 19,000-capacity Barclays Center in Brooklyn, New York.
The deal sees the Alibaba co-founder take control of the arena – home to basketball team the Brooklyn Nets – from Russian entrepreneur and politician Mikhail Prokhorov.
Tsai, who already owned 49% of the Nets, also purchased Prokhorov’s 51% controlling interest in the team. Prokhorov had held the stake through his company Onexim Sports and Entertainment.
Bloomberg reported that…
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