Alibababa co-founder to buy remaining 51% of Nets for $1.35b

[ChillyWilly]

Alibababa co-founder to buy remaining 51% of Nets for $1.35b

He currently holds 49% he paid a cool $1b for.

Prokhorov banked a few coins off his $370m investment in just 9 years.

[Birdman]

wow..would it still be over a billiion if KD and Kyrie wasnt there

[bdm860]

If anybody is seeing conflicting headlines elsewhere, hopefully this clears it up:

https://nypost.com/2019/08/13/joseph-tsai-to-buy-rest-of-brooklyn-nets-for-record-2-35b/

Joseph Tsai to buy rest of Brooklyn Nets for record $2.35B

Tsai already owns 49% of the team, which he bought for $1 billion last year. At that time, the 55-year-old businessman locked in the right to buy the remaining 51% of the team before the 2021-2022 basketball season for an additional $1.35 billion.

Paid $1b last year for 49%, paying $1.35b now for the remaining 51%, so $2.35b in total.

Edit: ChillyWilly already said this, but I just didn't comprehend it when reading it quickly.

[Sophomore]

If anybody is seeing conflicting headlines elsewhere, hopefully this clears it up:

https://nypost.com/2019/08/13/joseph-tsai-to-buy-rest-of-brooklyn-nets-for-record-2-35b/

Joseph Tsai to buy rest of Brooklyn Nets for record $2.35B

Tsai already owns 49% of the team, which he bought for $1 billion last year. At that time, the 55-year-old businessman locked in the right to buy the remaining 51% of the team before the 2021-2022 basketball season for an additional $1.35 billion.

Paid $1b last year for 49%, paying $1.35b now for the remaining 51%, so $2.35b in total.

Edit: ChillyWilly already said this, but I just didn't comprehend it when reading it quickly.

That's mind-boggling. So. Much. Money.

[SHAQATTACK]

If anybody is seeing conflicting headlines elsewhere, hopefully this clears it up:

https://nypost.com/2019/08/13/joseph-tsai-to-buy-rest-of-brooklyn-nets-for-record-2-35b/

Joseph Tsai to buy rest of Brooklyn Nets for record $2.35B

Tsai already owns 49% of the team, which he bought for $1 billion last year. At that time, the 55-year-old businessman locked in the right to buy the remaining 51% of the team before the 2021-2022 basketball season for an additional $1.35 billion.

Paid $1b last year for 49%, paying $1.35b now for the remaining 51%, so $2.35b in total.

Edit: ChillyWilly already said this, but I just didn't comprehend it when reading it quickly.

That's mind-boggling. So. Much. Money.

 yeah...an't it great .....way out of reach of LeTurd s dirty hands

[ImShakHeIsShaq]

Alibababa co-founder to buy remaining 51% of Nets for $1.35b

He currently holds 49% he paid a cool $1b for.

Prokhorov banked a few coins off his $370m investment in just 9 years.

Sweet baby Jesus, he owned 80%! That's a great investment! [dang].

Edit: he bought the rest in 2015 for 1.7... okay not as big of a come-up. Still great for 9 years FWIW.

[ChillyWilly]

Remember when being a millionaire was impressive. When you get so rich you buy sports teams for fun.

[Surferdad]

Alibababa co-founder to buy remaining 51% of Nets for $1.35b

He currently holds 49% he paid a cool $1b for.

Prokhorov banked a few coins off his $370m investment in just 9 years.

Sweet baby Jesus, he owned 80%! That's a great investment! [dang].

Edit: he bought the rest in 2015 for 1.7... okay not as big of a come-up. Still great for 9 years FWIW.

So he invested a shade over $2b and sold it for $2.35. Like you say, still a pretty good profit (for being a total incompetent).

[pearljammer10]

It's Alibaba.

[Somebody]

Extra ba at the end lol.

[ChillyWilly]

Alibababababa now it has 4