Sources: Tsai discussing minority sale of Nets

1 month ago
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Tim Bontemps, ESPNFeb 22, 2024, 04:20 PM ET

Brooklyn Nets owner Joe Tsai has discussed the possibility of selling a minority stake in the franchise to the Koch family, sources confirmed to ESPN.

The family's investment vehicle, 1888 Management, could potentially buy a stake in BSE Global, Tsai's holding company that not only controls the Nets but the WNBA's New York Liberty and Barclays Center.

The Kochs are well known for their involvement in politics, particularly in terms of funding conservative causes. Another prominent family in those circles, the Adelsons, recently purchased the controlling stake of the Dallas Mavericks from longtime owner Mark Cuban.

Tsai bought the Nets from Mikhail Prokhorov in 2019, after buying 49 percent of the team from the Russian billionaire the year before.

Brooklyn is 21-33 this season entering Thursday night's game against the Toronto Raptors, and fired coach Jacque Vaughn Monday after going 6-18 over the Nets' last 24 games.

Bloomberg first reported the news of the discussions over the minority stake taking place.

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