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joseph tsai

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Alibaba Co-Founder Joseph Tsai to Buy 49% of the Brooklyn Nets

Alibaba co-founder Joseph Tsai is reportedly in talks to purchase a 49% stake in the Brooklyn Nets.

Based on the said agreement, the Taiwanese-Canadian mogul will also have the option to purchase a controlling interest in the NBA organization in four years. Should Tsai decides to pursue it, current majority owner Mikhail Prokhorov will reportedly cede the controlling stake, according to ESPN.