Alibaba Co-Founder Joe Tsai Buys Brooklyn Nets . It's official. The Brooklyn Nets have a new owner. . The NBA's board of governors unanimously approved Tsai's purchase of the Nets on Wednesday. . Tsai spent almost $3.5 billion for the team and arena, the Barclays Center. . The sale is a new record for a U.S. sports franchise. . David Levy, former Turner Sports president, was hired by Tsai as the new CEO. . In addition to being a passionate basketball fan, Joe is one of China's pre-eminent internet, media and e-commerce pioneers. , Adam Silver, NBA commissioner, via statement. His expertise will be invaluable in the league's efforts to grow the game in China and other global markets. , Adam Silver, NBA commissioner, via statement. The Nets will play two preseason games in China against the Los Angeles Lakers next month. . NBA superstars Kevin Durant and Kyrie Irving both signed with the Nets this offseason.
