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"This is false," Alibaba spokeswoman Jennifer
Kuperman said. "Joe Tsai has never talked to the seller and he
is not purchasing any stake in the Brooklyn Nets."
Two sources told Reuters earlier on Thursday that Tsai was in
talks to buy a stake in the Brooklyn Nets, valuing the U.S.
basketball team at around $2.2 billion, and that a deal could be
finalized in the next few weeks. They added it was possible that
negotiations could collapse at the last minute.
The sources declined to speak for attribution because they are
not permitted to speak to the press.
The exact size of Tsai's possible stake could not immediately be
learned.
The Brooklyn Nets could not be reached for comment.
A deal would make the Brooklyn Nets the second NBA team to be
worth more than $2 billion, demonstrating the increasing value
of these teams as TV networks and advertisers continue to pour
money into live sports.
As more viewers choose to watch their favorite shows "on
demand," live sports still drive people to watch the games in
real time - which is valued by advertisers who have
time-sensitive promotions.
Last month, American casino mogul Tilman Fertitta bought the
Houston Rockets for $2.2 billion, the highest price ever paid
for an NBA team, according to media reports.
(Reporting by Jessica Toonkel and Olivia Oran in New York;
Additional reporing by Liana B. Baker in San Francisco; Editing
by Matthew Lewis)
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