NBA Board of Governors approves sale of Nets to Joe Tsai

NBA Board of Governors approves sale of Nets to Joe Tsai

Former Turner Broadcasting exec David Levy named team CEO

The NBA Board of Governors has unanimously approved the sale of the Brooklyn Nets to Joe Tsai. “We are thrilled that Joe Tsai is becoming the principal owner and governor of the Brooklyn Nets,” said NBA Commissioner Adam Silver.  “In addition to being a passionate basketball fan, Joe is one of China’s preeminent internet, media and e-commerce pioneers and his expertise will be invaluable in the league’s efforts to grow the game in China and other global markets.  I would also like to thank Mikhail Prokhorov and Dmitry Razumov for their enormous contributions to the Brooklyn community, the Nets organization and the league.  They leave a thriving team, well-positioned for the future.”

Additionally, the Nets made a change in the front office as well. Leading media and sports executive David Levy was named Chief Executive Officer of the Brooklyn Nets and Barclays Center, it was announced today by Joe Tsai who, through entities controlled by him, completed the acquisition of full ownership of both the Brooklyn Nets and Barclays Center today.

Levy will also serve as the President of J Tsai Sports, the sports investment and holding vehicle controlled by Tsai. Additionally, Levy will join Tsai’s family office as a venture partner, with coverage of sports, media and entertainment investments globally.

In his role as CEO of the Nets and Barclays Center, Levy, who has more than a 30-year career working with the NBA, will oversee all business, revenue, strategy and operations for the franchise and arena.

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