Alibaba co-founder Joseph Tsai 'is close to buying the WNBA's Liberty from Knicks owner James Dolan'

Mail Online | 8/14/2018 | Associated Press
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Brooklyn Nets minority owner Joseph Tsai is close to adding another New York team to his sports portfolio - the WNBA's New York Liberty.

An investment group led by the co-founder of the Alibaba Group is close to a deal to buy the Liberty, a person familiar with the purchase told The Associated Press on Wednesday. The person, who said the deal could be done within a week, spoke to the AP on condition of anonymity because the discussions were private.

WNBA - Season - Begins - May

The WNBA's regular season begins in May.

Tsai bought a 49 percent interest in the Nets in April, and he has an option to purchase outright ownership of the franchise from Russian oligarch Mikhail Prokhorov in 2021.

Liberty - Owner - James - Dolan - Team

Liberty owner James Dolan put the team up for sale in November 2017. There had been several potential buyers and a few had gotten close to purchasing the team over the past 14 months, but all the deals fell through for various reasons.

The team said before last season that it had 'lost money every year since its inception and cumulative losses exceed $100 million.' The franchise played most of its home games in 2018 at...
(Excerpt) Read more at: Mail Online
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