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Chinese Regime-Linked Joe Tsai Sells Stake in Brooklyn Nets to Koch Family

Taiwan-born billionaire and China backer Joe Tsai is selling a minority stake in the New York Nets to David Koch’s widow Julia after the sports enterprise was valued at a massive $6 billion.

BSE Global owns the Nets, the Barclays Center and the WNBA’s New York Liberty — and Joe Tsai controls it all — and now BSE has been valued at $6 billion, one of the highest in American sports.

Now Tsai is looking to hand out some of his stake to others, with his first move being to offer a 15% stake to Julia Koch, widow of Koch Industries co-founder David Koch, who has a family background in sports and will reportedly be investing alongside her three children, David, Mary and John. New York Post report.

The NBA has already approved the deal.

“Both families want to emphasize that they are committed to making the necessary investments in the franchise to build a sustainable winning culture,” Tsai said of their new partners, “and are also committed to investing in the talent and physical infrastructure to deliver the best sports and entertainment to our fans and spectators.”

Koch, who is worth an estimated $65.2 billion, and her children have no voting power in the league or control over the teams. Her husband, David, died in August 2019.

The valuation is more than double what Tsai originally paid for the sports team.

Tsai Ing-wen has deep financial ties to China’s authoritarian regime and has openly defended China’s brutal crackdown on political dissent at home and in Hong Kong.

Tsai Ing-wen, who made her fortune from the Chinese e-commerce company Alibaba, has helped the Chinese government build “an intrusive and ubiquitous surveillance state that uses emerging technologies to track individuals more efficiently.” ESPN pointed out 2022.

This surveillance state is the largest and most intrusive ever created, and it has been used to imprison and enslave the Chinese people, particularly China’s Uighur ethnic minority.

The Koch family is, of course, well-known as the deep-pocketed bakers of the Republican establishment, and has often campaigned against conservative organizations and political candidates. The Kochs refused to endorse Donald Trump in 2016, and during the 2020 campaign worked to defeat some of Trump’s chosen candidates and sabotage his policies.

Follow Warner Todd Huston on Facebook: facebook.com/Warner.Todd.Hustonor the Society of Truth Warner Todd Houston