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Barclays Center Sells Along with Brooklyn Nets Franchise
Alibaba co-founder Joe Tsai is acquiring the Barclays Center arena in downtown Brooklyn for a reported $700 million. It’s separate from a $1.35-billion acquisition from BSE Global that gives Tsai full ownership of the Brooklyn Nets basketball franchise, which calls the Barclays Center home.
“We are committed to maintaining Barclays Center’s iconic status by bringing together culture, community and entertainment for our fans and everyone in New York,” Tsai said in a statement. Tsai purchased a 49% stake in the Nets in 2018, and the NBA reportedly prefers franchise owners to also own their teams’ home venues.
The deal will allow BSE Global, controlled by Russian billionaire Mikhail Prokhorov, to continue owning NYCB Live, home of the Nassau Veterans Memorial Coliseum in Uniondale, NY. BSE Global will also continue to manage Lower Manhattan’s Webster Hall concert venue, on which it partnered with AEG in 2017.
For comments, questions or concerns, please contact Paul Bubny
- ◦Sale/Acquisition

