TORONTO – The Nets could gain a very large minority stake, with the billionaire Koch family reportedly in talks to buy a stake in the Nets.
First reported by Bloomberg News news.
There have been rumors over the past year that Nets owner Joe Tsai was considering selling a minority stake.
Those negotiations could include not only a stake in the team, but also BSE Global, the holding company that owns the Brooklyn Nets, the WNBA’s New York Liberty and Barclays Center.
Bloomberg noted that there is still no sign of an agreement on a sale.
The Koch brothers’ investment arm, 1888 Management, is interested in buying the stake, according to the report.
The Nets are valued at just under $4 billion, making them the fifth-most valuable team in the city, ahead of the Mets.
The Koch family is one of the richest and most influential families in the country.
Their worth is estimated at $64 billion, making them the second-wealthiest ownership group involved in the NBA, behind Clippers billionaire Steve Ballmer.
The Kansas natives supported Wichita State basketball in the past.
