TORONTO — David Koch Jr. is on the verge of becoming the Nets’ newest minority owner — and one of the NBA’s youngest and wealthiest owners.
Koch Jr., who is still in his late 20s, has been seeking investment in the team for about a year, a person familiar with the matter told the Post.
He is currently in talks with Nets owner Joe Tsai about buying a stake in Brooklyn.
bloomberg first broke the news.
Negotiations are progressing and have been going on for more than a month, sources told The Post.
he is a member of the wealthy Koch family
The Koch family is one of the wealthiest and most influential families in the United States, and their political influence is well documented.
Koch Jr.’s father, David Sr., passed away in 2019, and his mother, Julia, joined her son in the bid to buy about 10 percent of BSE Global, the parent company that owns the WNBA’s New York Liberty as well as the Brooklyn Nets. We are cooperating. , Barclays Center and several other holdings.
His mother donated to Lincoln Center
Julia is a major donor to Lincoln Center, and Tsai’s wife, BSE Vice Chair Clara Wu Tsai, serves on its board.
Depending on the source, her worth is estimated at $60 billion to $65 billion.
In any case, she is considered the second richest woman in the world.
Their vast family fortune would make the Coke family the second-wealthiest ownership group involved in the NBA, behind billionaire Steve Ballmer, owner of the Los Angeles Clippers.
he lives in new york
Koch Jr. is a huge basketball fan and lives in New York City. Rumor has it that he initially tried to buy Knicks stock. It makes sense, since the garden is his home.
Koch Jr., who graduated from Duke University in 2021 with a bachelor’s degree in political science and government, actually worked for Jim Dolan as a membership experience executive at Madison Square Garden Sports.
Instead, he’s now on the other side of the East River, trying to acquire a stake in the rival Brooklyn Nets.
meanwhile Estimated value of Sportico The Nets are valued at $3.98 billion, but industry insiders who spoke to the Post believed the minority stake would be sold at a higher valuation of $4.8 billion.
