Russian billionaire Mikhail Prokhorov may completely sell the Brooklyn Nets basketball club to Taiwanese businessman, vice president and co-founder of Alibaba Group Joseph Tsai by the end of the week. This was reported by the New York Post, citing sources. According to the publication’s interlocutors, the entire club will cost Tsai $2.35 billion. Last year, the businessman bought a 49% stake in the Brooklyn Nets from Prokhorov for $1 billion, and is now buying out the remaining 51% of the club’s shares.

Under the terms of last year's deal, Tsai received an option to buy out an additional stake in the club from Prokhorov in 2021 in order to become a controlling shareholder. The home of the Brooklyn Nets was not part of the deal and will likely continue to be owned by Onexim Sports and Entertainment.

Prokhorov first announced plans to sell shares of the Brooklyn Nets in April 2017. In September of the same year, the New York Post reported on the businessman’s plans to sell a controlling stake in the club in two stages: first a minority stake, and then, in the short term, the entire team. Tsai was named as a potential buyer, and the transaction amount was estimated at $2 billion.

The American basketball club Brooklyn Nets, according to Forbes, ranks 37th in the ranking of the most expensive sports clubs in the world. The sale of 49% of the club's shares allowed Prokhorov to take second place in the ranking of billionaires with the highest income according to Forbes last year.

Artem Korotaev / TASS Sergey GalitskyIncome: $2.44 billionSource: sale of 29% of the shares of the retailer Magn... Andrey Gordeev / Vedomosti Mikhail ProkhorovIncome: $1.77 billionSource: sale of shares of UC Rusal and 49% of the Bas... Maxim Stulov / Vedomosti Vladimir LisinIncome: $1.59 billionSource: NLMK dividends... Evgeny Razumny / Vedomosti Alexey MordashovIncome: $1.46 billionSource: Severstal dividends, amounting to... Evgeny Razumny / Vedomosti Alisher UsmanovIncome: $1.12 billionSource: sale of 30.05% in London football... Evgeniy Razumny / Vedomosti Vladimir PotaninIncome: $1.12 billionSource: Norilsk Nickel dividends... Maxim Stulov / Vedomosti Vagit AlekperovIncome: $740 millionSource: dividends and sale of Lukoil shares... Andrey Gordeev / Vedomosti Viktor Vekselberg Income: $710 million Source: sale of shares and dividends in the company... Vyacheslav Prokofiev / TASS Roman Abramovich Income: $600 million Source: Evraz dividends (exceeded $475 ... Evgeniy Razumny / Vedomosti Suleiman Kerimov Income: $490 million Source: Polyus dividends. ..

The media learned about Prokhorov's plans to sell Brooklyn Nets to the co-founder of Alibaba