Russian businessman Mikhail Prokhorov, who bought a majority stake in the then-New Jersey Nets in 2010, sold his remaining 51 percent stake in the team and relinquished control of Barclays Center to Joe Tsai, who recently bought a 49 percent share of the team in 2017. The deal is valued in its entirety at around $3.5 billion.
Tsai, a Chinese-Canadian businessman who is the vice-chairman of Chinese-based conglomerate Alibaba Group, also owns the San Diego Seals lacrosse team and the WNBA's New York Liberty, who have played some home games in Brooklyn. He also attempted to purchase the Carolina Panthers in 2018.
While Prokhorov's vision did lead to the team's move to Brooklyn, many criticized his win-now approach as one of the determining factors in making that ill-fated trade with the Boston Celtics that made the Nets a doormat for several years.
His ownership was also marred by some weird, eccentric moments, which isn't uncommon for ungodly rich people like him.
Prokhorov leaves behind a complicated legacy, but at least he went out on a high note following the Kyrie Irving and Kevin Durant signings. Now it's Tsai's turn to run things in Brooklyn.