This is a critical time for the net as Brooklyn closed in its first year of reconstruction.
It's a busy time for owners while running Alibaba, buying a share of dolphins and jetting back and forth from China.
But Joe Tsai repeated that his priorities in Brooklyn were championships rather than cash.
And when asked if he was interested in buying an NFL team, he replied no as he was still focused on building an NBA franchise he already has to the winners.
“No, I don't feel like I'm an owner of the NFL yet,” said Tsai, who has a 3% stake in the dolphins. “You have to look after the Brooklyn Nets first, meaning you have to win first in a sport you are already involved in.
Tsai emphasized that minority purchases in Miami are strictly financial and portray net ownership as a labor of love.
The 61-year-old e-commerce billionaire, who bought a minority stake in NETS in 2017 and won the majority two years later, spoke at CNBC's “Converge” leadership event in Singapore, discussing a wide range of topics.
Tsai, who co-founded Alibaba with Jack Ma, has been redirected to a practical role with the China-based giant, who was appointed chairman of the board.
He discussed Alibaba's AI advancements, President Donald Trump's tariffs and, most importantly, for fans of Brooklyn, the net.
“For sports owners, the postseason return season wins. Every season, you want to win the championship, so you want to win the game, right?” Tsai asked rhetorically.
“I don't think my ultimate reward is financial because I'm not looking at a team's profit and loss statement from season to season. The financial aspect is important, but you need to make sure that the investment in revenue doesn't make sense, but at the end of the day it's through love for sports.
Tsai's investment in Liberty will return the WNBA title this past season, with Tsai and his wife Clara planning to double it by building a training facility in Brooklyn for the team.
Tsai forked some of the heaviest luxury tax bills in NBA history when Kevin Durant, Kyrie Irving and James Harden came together, but Nets general manager Sean Marks repeatedly praised his willingness to spend ownership.
Now, by reluctantly rebuilding in New York, Tsai gives another kind of support to what he was originally helmed.
Marks signaled that he rebuilt the day he traded Mikal Bridges (for a record five first round picks) and re-acquired the natural first round this year, next year and next year.
The net fell 105-99 to the Pacers in overtime on Thursday night, only 23-47.
They were tied fifth by lottery odds to enter the night.
It's a painful investment in the Nets' future.
But fans are supporting it, and Brooklyn will attract a big crowd to stretch this season.
All signs refer to Tsai being in the internet business for the long term.
The Converge event came before Thursday's news, with real-life NBA champions Celtics on sale for a record-breaking $6.1 billion.
For perspective, Tsai paid around $3.3 billion to the Nets and Barclays Center.
Recently in 2023, Forbes reported that they were the only NBA team to lose money, but by last year they had made a profit of $43 million.
And last summer, TSAI sold a 15% stake in BSE Global, the parent company of Nets, Liberty and Barclays Center, to Julia Koch at a $6 billion valuation.
“Everyone thought I would overpay it,” Tsai said. “But seven years later, I didn't overpay.”
