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NY Post
New York Post
22 Feb 2024


NextImg:Billionaire Koch family eyeing Nets ownership stake

TORONTO – The Nets could be taking on a very major minority owner, with the billionaire Koch family reportedly in talks to buy a stake.

Bloomberg News first reported the news.

There have been rumblings of Nets owner Joe Tsai looking to sell a minority share for the past year.

These talks could possibly include not just a stake in the team but also BSE Global, the holding company that owns the Brooklyn Nets, the New York Liberty of the WNBA and the Barclays Center.

A view of the Brooklyn Nets logo before a game in February 2022. Getty Images

Bloomberg noted there was no indication of an agreement on a sale yet.

The Koch Brothers family investment vehicle, 1888 Management, is the entity interested in buying a stake, per the report. 

The Nets are valued at just less than $4 billion, and are the fifth-most valuable team in the city, ahead of the Mets.

The Koch family is one of the richest — and most influential — in the country.

Nets owner Joe Tsai.
Nets owner Joe Tsai. Corey Sipkin for the NY POST

They’re worth an estimated $64 billion and would become the second-richest ownership group involved with the NBA, behind only Clippers billionaire Steve Ballmer.

Originally from Kansas, they’ve supported Wichita State basketball in the past.