Nets owner Joseph Tsai had already reached his limit, multiple sources told The Athletic, after years of injuries, off-court embarrassments and playoff failures were followed by threats leaked by Irving and Durant during Brooklyn’s contract negotiations with Irving. Tsai, 58, co-founder of Alibaba Group, China’s largest commerce retailer, was born in Taiwan, went to high school in New Jersey, has two degrees and four varsity letters (lacrosse) from Yale and is worth $9 billion, according to Forbes.
Tag: Joseph Tsai
Durant urged the organization to go …
Durant urged the organization to go back on its original stance and allow Irving to play and practice where eligible on the road, according to sources. Brooklyn was in second in the East on the day of Irving’s first game.
For everything owner Joe Tsai and …
For everything owner Joe Tsai and general manager Sean Marks did to assemble one of the modern NBA’s most talented Big 3s, Irving’s impenetrable connection to Durant looms as a domino to the dismantling of the roster. Brooklyn is straddling the narrowest of walkways: Keeping conviction on Irving’s contract talks and keeping Durant’s desire to stay a Net.
Joe and Clara Wu Tsai are initiating a …
Joe and Clara Wu Tsai are initiating a social media campaign to encourage an increased sense of belonging. Their Social Justice Fund will use the “You Belong Here/We Belong Here” neon sculptures by Tavares Strachan outside Barclays Center as its touch stone.
The Social Justice Fund for Brooklyn, …
The Social Justice Fund for Brooklyn, financed with a five-year $50 million commitment from the Tsais’ charitable foundation, will utilize the #YouBelongHere hashtag and the sculptures to raise funds for the initiatives it’s backing in the borough. (The $50 million is atop the $10 million commitment each NBA owner agreed to provide following the murder of George Floyd and the resulting protests two years ago.)
Variety can break the news that Hulu is …
Variety can break the news that Hulu is developing an untitled comedy from Kasdan and Mar starring comedian and “The Daily Show” correspondent Ronny Chieng, who has been tapped to play the new GM of the Brooklyn Nets. The story is inspired (but not about) real-life Nets owner Joe Tsai.
Though the Nets set records for …
Though the Nets set records for attendance, ticket revenue and sponsorships under Abbamondi, Tsai’s huge investment led him to believe a good showing should have been great. The Taiwan-born billionaire felt Abbamondi was not innovative or data-driven enough, sources close to the situation told The Post.
The Nets’ average gate receipts this …
The Nets’ average gate receipts this season were $2.1 million per game, fourth in the league. That was better than a 100 percent improvement over the $1 million per game during the last full pre-pandemic season in 2018-19, according to an NBA source. It also was the biggest jump in the league (the Suns were the only other team with a similar increase).
Nets suffering millionaire losses after disappointing 2021-22 season
The Nets and Barclays Center lost between $50 million and $100 million combined in the 2021-22 season, giving Tsai perhaps the worst financial losses in the NBA, sources with close knowledge of the situation told The Post.
Tsai believed that after he bought the …
Tsai believed that after he bought the Nets and Barclays in August 2019 he could make it into a state-of-the-art operation like Alibaba, the Chinese ecommerce giant he co-founded and which made him worth roughly $10 billion. Instead, his prior success has not translated to the hardwood.