NEW YORK (CelebrityAccess) — Joe Tsai, Clara Wu Tsai and their family, owners of the Brooklyn Nets announced plans to sell a minority stake in the venue management company BSE Global to investors Julia Koch and her children.
BSE Global is the parent company behind the Brooklyn Nets, New York Liberty and Barclays Center, which they acquired full ownership of in 2019.
Following the acquisition, which still requires final approval of the NBA Board of Governors, Joe Tsai will continue his current role as the Chairman of BSE Global and Governor of the Brooklyn Nets and Clara Wu Tsai will remain Vice-Chair of BSE Global and Governor of New York Liberty.
Basketball and business operations at BSE Global will continue to be led by CEO Sam Zussman, Nets GM Sean Marks, and New York Liberty CEO Keia Clarke and GM Jonathan Kolb.
“We are pleased to welcome Julia Koch and her family to BSE Global,” said Tsai. “Mrs. Koch’s commitment to New York institutions is an invaluable addition to our franchise. The Nets have a special bond with the Brooklyn and broader New York communities, and we are looking forward to working with Mrs. Koch and her family as we increase investment in our franchise.”
“We welcome this new partnership with the Koch family,” said Wu Tsai. “We are excited to expand upon our shared commitment to New York City, especially the borough of Brooklyn, and continue to bring the very best sports and entertainment to this city.”
“Our family is honored to join the Tsai family in shaping, advancing and contributing to the shared vision for the future of The Nets, The Liberty and the broader Brooklyn community.” Julia Koch added.
The financial terms of the transaction were not disclosed.
