The NBA officially approved the sale of the Brooklyn Nets from Mikhail Prokhorov to Joe Tsai.
Tsai, who was a minority stakeholder of the team, had agreed with Prokhorov to acquire full ownership of the Nets several weeks ago.
“We are thrilled that Joe Tsai is becoming the principal owner and governor of the Brooklyn Nets.
In addition to being a passionate basketball fan, Joe is one of China’s preeminent internet, media and e-commerce pioneers and his expertise will be invaluable in the league’s efforts to grow the game in China and other global markets,” NBA Commissioner Adam Silver said.
