Joseph Tsai has owned 49 percent of the Nets for the last year, but it now sounds like he is poised to become the team's sole owner.
According to a report from the New York Post, Tsai is set to buy the remaining 51 percent of the team from Mikhail Prokhorov for $2.35 billion, which would be the highest price ever paid for a sports franchise, topping what David Tepper paid for the Carolina Panthers last year ($2.2 billion).
Tsai, the co-founder of the Chinese company Alibaba, already owns 49 percent of the team, which he paid $1 billion dollars for, and had the right to buy the remaining 51 percent for $1.35 billion, which he now seems poised to do.
The Post has also previously reported that Tsai was in talks to buy both the Barclays Center and the new Nassau Coliseum on Long Island.