Reuters is reporting that Joseph Tsai, the billionaire vice chairman of China’s Alibaba group, is in talks to buy a stake in the Nets. But Tsai denies it,
Exclusive: Alibaba Group Vice Chairman Joseph Tsai in talks to buy stake in Brooklyn Nets basketball team - sources
— Reuters Business (@ReutersBiz) October 5, 2017
CNBC reports that Alibaba was quick to deny it, putting out a statement moments after the Reuters report.
Alibaba Statement “This is false. Joe Tsai has never talked to the seller and he is not purchasing any stake in the Brooklyn Nets.