Joe Tsai acquired Brooklyn Nets from Mikhail Prokhorov.

Brooklyn Nets owner Mikhail Prokhorov has completed the sale of a 49% interest in the Brooklyn Nets to Joe Tsai. Mr.Tsai is executive vice chairman and co-founder of Alibaba Group, a global internet company with businesses in e-commerce, cloud computing and digital entertainment. Mr. Prokhorov commented, “As we looked for a partner for the team, the number one priority was to find someone who shares our global vision and passion for the future development of the Brooklyn Nets."