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Announced

Completed

Joe Tsai completed the acquisition of the Brooklyn Nets and Barclays Center from Mikhail Prokhorov.

Financials

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Transaction Value£1,007m
Consideration TypeCash
Capital Owned49%
Capital Bid For51%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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Acquisition

Friendly

Private

Entertainment

basketball club

United States

Single Bidder

Majority

Completed

Synopsis

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Brooklyn Nets owner Mikhail Prokhorov completed the sale of remaining 51% interest in the Brooklyn Nets and 100% ownership of Barclays Center 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. Financial terms were not disclosed. "The team is in a better place today than ever before and I know that Joe will build on that success while continuing to deliver the guest experience at Barclays Center that our fans, employees, and colleagues in the industry enjoy," Mikhail Prokhorov.

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