Other than NBA Board of Governors approval, which is seen as a formality, Mikhail Prokhorov’s sale of a controlling interest in the Brooklyn Nets and all of Barclays Center to Joe Tsai is complete. The Nets announced the sale early Friday.
Although the Nets did not disclose the price, a league source involved in the transaction said the final price tag is $3.5 billion, by far the largest sum ever paid for a U.S. sports franchise.
The Nets also announced that Brett Yormark, the team’s long time CEO is leaving, as reported Thursday evening.
Here’s the official release.