Joseph Tsai Rumors
Nets Daily: Nothing new on Nets signing of Jacky Cui, but in recent video, Joe Tsai told fans any Chinese player must be NBA-ready. “If I bring in a Chinese player, it’s meaningless if he doesn’t have the ability … If he can’t play, I’ll be criticized. If he can, it’ll be meaningful.”
Nets Daily: Julia Koch and her hoops-loving son, David Koch Jr were with Joe Tsai at Commissioner’s Cup game last night to watch Liberty, 24 hours after being approved as minority owners. Bet they’re on hand tonight at Barclays Center. also part of the deal.
Brian Lewis: Joe Tsai had paid roughly $3.3 billion for the teams and the arena in stages, and sold these shares at a valuation of $6B. A source confirmed to the Post that Julia Koch and her family won’t have a path to control, and she also will not become an alternate governor. #Nets #NBA
Julia Koch will invest into BSE herself but intends to include her three children into the endeavor. She is the 23rd wealthiest person in the world, according to Forbes, with personal holdings valued at $64.3 billion. She inherited a 42 percent stake in Koch Industries when David died in 2019, according to Forbes. She sits on the board of directors for Koch Industries but her public profile has been muted.
Billionaire Julia Koch and her family have agreed to purchase 15% of BSE Global, which is controlled by Joe Tsai and Clara Wu Tsai, at that valuation, according to the memo, a copy of which was viewed by Sportico. The NBA’s advisory finance committee has reviewed the transaction and recommended that it be be approved by league governors, who must vote by June 24.
Celtics minority owner Stephen Pagliuca was nearly the controlling owner of the Nets, a seismic move that could’ve impacted both Brooklyn and Boston. Pagliuca — born in New York and raised in New Jersey — almost teamed up with Joe Tsai to buy the Nets from Russian oligarch Mikhail Prokhorov in 2017. “I was honored to be contacted by the Nets in 2017 to look at the club,” Pagliuca told The Post on Tuesday, “but decided after a review that my heart was with the Celtics and subsequently invested more capital in the Celtics franchise and also in the Italian Serie A soccer team Atalanta.”
Nets Daily: Joe Tsai says don’t expect an NBA China tour “Due to geopolitical situation right now it would be very difficult to bring the NBA to mainland China. But in due course I hope to see a China tour because what that reflects is a more benign relationship.” youtu.be/8znIj2ML_Vo
Nets owner Joseph Tsai says franchise 'is at a crossroads'
The Brooklyn Nets are coming off a 2023-24 season in which they finished with a disappointing 32-50 record after an encouraging 13-10 start to the season. One of the themes that became evident as the season went on is that Brooklyn has to find a way to rebuild and one key member of the franchise has finally spoken. “In New York, the Brooklyn Nets is at a crossroads in a way,” Nets owner Joe Tsai said of the team at J.P. Morgan’s Global China Summit in Shanghai on Friday. After the dramatic breakup of the big three of Kevin Durant, James Harden, and Kyrie Irving, plenty of Nets fans have been calling for Tsai to issue a statement about the team that he governs.
“We didn’t do as well as we expected last season. We didn’t make the playoffs,” Tsai continued. “But we hope to revamp the team and make sure that we can compete in the long run… There’s a difference between I want to win, versus I want to build a winning mentality and culture that’s sustainable. Those two are very different things.”