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

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.