Summarize this content to 2000 words in 6 paragraphs in Arabic <\/p>\n
Joe Tsai is selling a minority stake in the Nets to the Koch family \u2014 and setting a staggering valuation for the team while doing it.<\/p>\n
BSE Global \u2014 the parent company of the Nets, Barclays Center and New York Liberty \u2014 was assessed a valuation of roughly $6 billion in the upcoming stake sale, per an email sent to other league owners Tuesday. <\/p>\n
That\u2019s one of the largest valuations in the history of American pro sports sales.<\/p>\n
\u201cMore capital to invest in a great fan experience,\u201d a source familiar with the deal told The Post. \u201cThe $6B valuation is not stretched at all if you take into account a potential new NBA media deal, a hot WNBA team with exponential growth, and Barclays Center doing really well as a top concert venue.\u201d<\/p>\n
Tsai had paid roughly $3.3 billion for the teams and the arena in stages, buying a minority stake and taking control in 2019. <\/p>\n
He\u2019s selling a 15 percent share to Julia Koch and her family, which will get a right of first offer of any future control. <\/p>\n
The news was first reported by Sportico and confirmed by The Post, which had also been the first to report the share amount.<\/p>\n
A source confirmed to The Post that Koch and her family \u2014 who are worth an estimated $65.2 billion, according to Forbes \u2014 will have no path to control as Tsai did when he bought a minority stake from Russian oligarch Mikhail Prokhorov. She also will not become an alternate governor.<\/p>\n
Koch, a 62-year-old New York resident, was married to late billionaire David Koch, and is investing with her three children: David Jr., Mary Julia and John.<\/p>\n
\u201cI want to emphasize that both our families are committed to making the necessary investments in our franchises to build a sustainable winning culture,\u201d Tsai told BSE employees in a letter, \u201cas well as in the people and physical infrastructure to bring the best of sports and entertainment to our fans and audiences.\u201d<\/p>\n
The valuation is noteworthy, nearly double what Tsai paid.<\/p>\n
The Nets (and related properties) had been valued at $3.98 billion by Sportico, and Liberty at $130 million. Clearly the reality surpassed the supposition.<\/p>\n
Part of that is likely skyrocketing TV revenues, with the league\u2019s new deals reportedly in the region of 11 years and more than $70 billion. And Barclays Center was the highest grossing arena in the world in April, per Billboard.<\/p>\n
The NBA\u2019s advisory finance committee has already reviewed the deal and recommended it be approved by league governors, who must vote by Monday.<\/p>\n","protected":false},"excerpt":{"rendered":"
Summarize this content to 2000 words in 6 paragraphs in Arabic Joe Tsai is selling a minority stake in the Nets to the Koch family \u2014 and setting a staggering valuation for the team while doing it. BSE Global \u2014 the parent company of the Nets, Barclays Center and New York Liberty \u2014 was assessed<\/p>\n","protected":false},"author":1,"featured_media":131284,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[58],"tags":[],"class_list":{"0":"post-131283","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-sports"},"_links":{"self":[{"href":"https:\/\/globetimeline.com\/ar\/wp-json\/wp\/v2\/posts\/131283","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/globetimeline.com\/ar\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/globetimeline.com\/ar\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/globetimeline.com\/ar\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/globetimeline.com\/ar\/wp-json\/wp\/v2\/comments?post=131283"}],"version-history":[{"count":1,"href":"https:\/\/globetimeline.com\/ar\/wp-json\/wp\/v2\/posts\/131283\/revisions"}],"predecessor-version":[{"id":131285,"href":"https:\/\/globetimeline.com\/ar\/wp-json\/wp\/v2\/posts\/131283\/revisions\/131285"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/globetimeline.com\/ar\/wp-json\/wp\/v2\/media\/131284"}],"wp:attachment":[{"href":"https:\/\/globetimeline.com\/ar\/wp-json\/wp\/v2\/media?parent=131283"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/globetimeline.com\/ar\/wp-json\/wp\/v2\/categories?post=131283"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/globetimeline.com\/ar\/wp-json\/wp\/v2\/tags?post=131283"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}