Prokhorov completed a deal to sell shares to the NBA club co-founder Alibaba

Mikhail Prokhorov completed the deal to sell 49% in the club of the National Basketball Association "Brooklyn Nets" co-founder of Alibaba Group.
Origin source
According to the official website of the NBA, the deputy head of Alibaba Group, Joseph Tsai, bought from Prokhorov 49% of the shares of Brooklyn Nets. As a result of the transaction, the Russian businessman will continue to control the club and will own the arena of Barclays Center, where the team plays. However, Tsai will have the opportunity in 2021 to increase its share and become the main owner of "Nets".

As Prokhorov said, commenting on the completion of the deal, "it was important to find a partner who shared the desire to create an excellent enterprise." The businessman expressed the hope that he will work with Tsai for many years.

In turn, the co-founder of Alibaba said that New York, in which the team is based, occupies a special place in his heart, because it was in this city that he began his career.

The amount of the transaction is not called, but in October last year, the ESPN channel estimated it at $ 1.1 billion.

Mikhail Prokhorov's company Onexim Sports & Entertainment bought 80% of Nets shares and a 45% stake in the arena in 2010. The total value of the purchased securities was $ 223 million. In 2012, Brooklyn Nets moved to New York from the neighboring state of New Jersey. In Brooklyn for the team Prokhorov was built stadium Barclays Center. In 2015, Prokhorov became the sole owner of the club and stadium, having bought the remaining shares from developer Bruce Ratner. As stated in the press release of the company Ratner Forest City Enterprises, the total amount that Prokhorov gave for the club was $ 875 million, and for the arena - $ 825 million.