REUTERS: Alibaba Group Holding Ltd co-founder Joseph Tsai is nearing a deal to buy the 51per cent stake he does not already own in the U.S. basketball team Brooklyn Nets, a source familiar with the matter told Reuters.Advertisement
If the negotiations conclude successfully, a deal could be announced as early as this month, the source said. Russian billionaire Mikhail Prokhorov had sold a 49per cent stake in the team to Tsai in April last year. Tsai had then reserved the option to acquire additional shares in 2021, which would make him the controlling owner.
The sale would mark a new record for a U.S. professional sports franchise, the Wall Street Journal reported first on Wednesday.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Miley Cyrus Isn't Rushing to File for Divorce from Liam Hemsworth: SourcesThe stars haven’t completely ruled out a reconciliation down the line.
Source: YahooSG - 🏆 3. / 71 Read more »
Vegetation fire the size of 2 football fields breaks out near East Coast ParkSINGAPORE — A vegetation fire broke out near East Coast Park on Monday night (Aug 12).
Source: TODAYonline - 🏆 1. / 99 Read more »
Singapore cuts annual GDP forecast to 0-1% amid ‘strong headwinds’ for rest of 2019SINGAPORE: With the economy likely to continue facing “strong headwinds” for the rest of 2019, Singapore has reduced its expected growth for the ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Singapore slashes annual GDP forecast to 0-1% amid ‘strong headwinds’SINGAPORE: With the economy likely to continue facing “strong headwinds” for the rest of 2019, Singapore has cut its expected growth for the year ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Metro Holdings Q1 net profit halved on lower fair-value gainsMAINBOARD-LISTED Metro Holdings on Tuesday posted a 47.5 per cent drop in first-quarter net profit to S$10.6 million on the back of lower fair-value gains from investments and weaker contributions from joint ventures. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »
Wilmar Q2 net profit halved due to lower crush marginsAGRI giant Wilmar International's net profit for the second quarter fell 52 per cent to US$151 million from a restated US$316.4 million a year ago on the back of lower soybean crush margins, weaker showing by associates and sugar business as well as higher finance cost. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »