Skip to main content

How Nets will be different under future owner Joe Tsai

Now that Joe Tsai, the Nets’ minority owner, is closing in on his purchase of Barclays Center, that opens the door to accelerating his takeover of the rest of the team. But what does that means for fans?

Once Tsai completes the deal for the team, worth an NBA-record $2.35 billion, and adds the arena to go with it in a move first reported by The Post, the Nets will swap one wealthy foreign owner for another. What will change and what stays the same?

The deep pockets, for one, will remain. Tsai will replace Mikhail Prokhorov as the third-richest principal owner in the NBA; both men are estimated to have net worths in the vicinity of $10 billion. And sources have consistently said Tsai will give general manager Sean Marks the money needed to win.

But expect Tsai to be more visible. More visible around the Nets and the NBA and even more visible in New York.

Despite being the co-founder of Chinese e-commerce giant Alibaba — and presumably taking an even bigger role with founder Jack Ma slated to step down next month — Tsai surely will be around the Nets more than his predecessor.

Tsai already has attended more games the past two seasons than Prokhorov did over the past several years combined. Yes, Tsai splits his time between Hong Kong and La Jolla, Calif., but he attended the Lawrenceville School in New Jersey, and lived, worked and even met his wife Clara in New York.

“New York is an incredible city. I have an affinity for New York,” Tsai told The Post in May. “My first job after law school was in New York. I met my wife here. So New York to me is my second home.”

Tsai and his wife — a philanthropic investor — already are committed to charity work in that second home. They also were heavily involved in putting together the Reform Alliance, lobbying to change state probation and parole laws.

Expect Tsai to be more front-and-center than Prokhorov ever was. He isn’t afraid to speak his mind, whether talking about communism or rebuking President Donald Trump’s trade war on China. And when Tsai becomes the Nets’ principal owner, he could become a power player in the NBA.

Tsai is already on the board of NBA China — at league commissioner Adam Silver’s behest. And once he takes the reins of the Nets — giving him control of the NBA franchise, the Long Island Nets, the Liberty and the Nets Gaming Crew — he will be one of just four owners with an NBA, G-League, WNBA and esports team.

But fans who suffered through lean years will just want to see what he does with those teams.

Despite the disastrous results when Prokhorov tried to grab the NBA brass ring, he did spend over $120 million in luxury taxes. The Russian billionaire operated largely in cash. Will Tsai (whose portfolio is more stocky-heavy), be willing to similarly spend, especially when neither the Nets nor Barclays have thrown off much cash?

By all accounts, the answer is yes.

“I feel extremely lucky to come into this situation when I do have an opportunity to take over the team — exercising the option — I feel like I’ve inherited something that’s very, very good, that’s kind of passed on from the prior ownership,” Tsai told The Post. “And that’s a fine situation to be in.”

Marks handed over a third of a billion dollars in contracts on one day to Kevin Durant, Kyrie Irving and DeAndre Jordan. It’s a daunting commitment before even considering Caris LeVert and Jarrett Allen will be due for raises soon. That kind of expenditure has “luxury tax” written all over it, but sources have said Tsai is committed long term.

“[Tsai and Prokhorov] have both shown the support we need from a basketball operations department,” Marks said. “The ultimate goal for everybody is to win the whole thing.”

Credit: Source link

The post How Nets will be different under future owner Joe Tsai appeared first on Fox USA Live.



from Fox USA Live https://ift.tt/2MfXpml

Comments

Popular

LPGA's most dominant player this season wins first major title

Jin Young Ko had dominated throughout the early season, only her second on the LPGA Tour. Third place or better in four of five events. No. 1 on the money list. Easily the best finisher on tour this year. Now, the 23-year-old South Korean can add a major championship to her lustrous resume. Playing... from latimes.com - Los Angeles Times http://www.latimes.com/sports/more/la-sp-ana-inspiration-round-4-20190407-story.html>

Review: Animated ‘Chance’ takes on dog fighting with overly earnest yet well-intended spirit

The CG animated feature “Chance” is a well-intended but heavy-handed denunciation of the barbaric blood sport of dog fighting. The title character (voiced by Will Canon) is a dreamer of a pit bull, who believes in a canine god and a peaceful place where “Hatonas” (dogs) can live idyllic lives.... from latimes.com - Los Angeles Times http://www.latimes.com/entertainment/movies/la-et-mn-mini-chance-review-20190403-story.html>

Convicted rapist killer strikes again after getting out of jail

A convicted rapist killer who strangled a teen in 1981 and was suspected of cutting out the eyes out of an earlier victim has been arrested on a new rape charge, six years after he got out of jail. Christopher “Crazy Chris” Aniades, 62, is being held on an attempted forcible rape charge after he allegedly attacked the victim, according to the city Department of Correction. He’s being held at the Eric. M Taylor Center in Queens on first degree attempted rape, according to the city Department of Correction website. His arrest on Aug. 2 was based on a warrant issued by the state’s Division of Parole. The NYPD and the state DOC said they couldn’t provide details on Aniades’ latest offense. Aniades, who was released on Aug. 20, 2013 after spending more than 30 years in jail, became a poster boy of the violent 1980s in New York, when homicides routinely reached 2,000 a year. He was sentenced to 25-years to life for abducting, raping and killing 19-year-old Doreen Vitale on Oct. 15 198...