FILE PHOTO: Joseph Tsai, Executive Vice Chairman of Alibaba Group, speaks at the Wall Street Journal Digital Conference in Laguna Beach, California, U.S., October 17, 2017. REUTERS/Mike Blake
NEW YORK: Alibaba Group Holding Ltd. Executive Vice Chairman Joe Tsai is paying about $3.5 billion for the Brooklyn Nets and their arena, the Barclays Center, according to a person familiar with the deal.
The agreement to buy the team and arena from Russian billionaire Mikhail Prokhorov may be announced as soon as Friday, said the person, who asked not to be identified because the deal isn’t yet public.
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