With BSE Global (Brooklyn Nets, ArenaCo, Liberty & more) valued at $6B, Joe & Clara Tsai set to reap $900 million in 15% sale to #sportswashing Koch clan
It's stunning: the Brooklyn Nets, Barclays Center operating company, and other assets in BSE Global are apparently valued at $6 billion--far more than previously estimated and nearly double the 2019 purchase price--upon the investment of a 15% non-controlling stake by the family of Julia Koch, widow of the late David Koch, a key right-wing political funder . The apparent $900 million payday for owners Joe and Clara Tsai represents a huge profit after losing money on the team and arena company, and an astounding leap in valuation for a franchise once worth a fraction of this new investment. It also positions the Koch family, notably basketball fan David Koch, Jr., as future owners of BSE Global and the Nets, given the right of first refusal should the Tsais decide to sell. In February, when news of the potential Koch investment surfaced, the BSE Global valuation was reported at potentially $4.8 billion, and the Koch slice 10-15%. The assets include the New York Liberty,...