Nets Co-Owner gives Long-Term Commitment to Brooklyn Amid Soaring Franchise Value

When asked about the diversification of her assets (Brooklyn Nets, New York Liberty, Barclays Center), Tsai explained that while some ventures may offer promising potential, the NBA is an established revenue source that she plans to hold on to.

“The NBA is a fantastic asset. It’s as blue-chip as it gets. You hold it because it's scarce, its premium, there is definitely going to be franchise upside,” said Tsai.

Back in 2019, Clara and her husband Joe purchased the Brooklyn Nets from Mikhail Prokhorov for $2.35 billion, which was the highest amount that an American sports franchise has ever been purchased for at the time.  Before fully purchasing the team, the Tsai’s purchased a 49% stake of the franchise back in 2017 before eventually taking on majority ownership of the team two seasons later.

According to Tsai’s remarks at the Summit, the team is now estimated to be worth $6 billion, nearly triple its purchase price and up $1 billion from Forbes’ most recent valuation in October.

CNBC’s latest rankings placed the Nets as the NBA’s sixth-most valuable team. But if their valuation has climbed to $6 billion, that would move Brooklyn into the fourth spot league-wide.

Prokhorov also sold the Nets’ arena, the Barclays Center, to the Tsai’s as part of the deal. During the panel, Tsai touched on how valuable the Barclays Center is.

“I want to point out how important Barclays Center is to our world and our ecosystem.” “It lets us control our full experience and its the anchor for what we do in the community,” Tsai said.

As the Tsai's enter their seventh season as majority owners of the franchise, their continued involvement will be criticial as the team moves forward with this phase of the rebuild.