While the Celtics are for sale, and Junior Bridgeman has just acquired 10% of the Bucks, NBA franchise owners are taking the opportunity to expand their assets in American sport.
A few days ago, we learned that Tom Gores, the boss of the Pistons, had spent more than a billion dollars to seize 27% of the shares of the Los Angeles Chargers in the NFL. Today, it is Joe Tsai, the owner of the Nets, who is putting his hand in his pocket to buy a minority stake in the Miami Dolphins, still in the NFL.
According to the New York Post, Joe Tsai joined forces with the Ares Management investment fund to buy shares in the franchise share valued at eight billion dollars, but also in certain properties that belong to him such as the Hard Rock Stadium and the Miami Formula 1 Grand Prix. We are talking about a 10% stake, or $800 million.
For Joe Tsai, who owns the Nets in the NBA and the New York Liberty in the WNBA, the share would be 3%, via Blue Pool Capital, his family business. That’s a check for around $240 million.
