The Brooklyn Nets could soon see a change in ownership as the Koch family acquires a minority stake in the franchise. Purchasing a basketball team is not a joke and a person needs huge money to do it.
The Koch family is one of the few families in the world that can achieve such a feat. So let us dive into this article to learn more about them and also explore their current chances of becoming the new owner of the Brooklyn Nets.
Koch family: Who are they?
The Koch family is one of the richest families in the world. They are currently in talks to acquire a minority stake in the Brooklyn Nets, a team from the National Basketball Association. Becoming the owner of an NBA team is no easy feat to accomplish and a person needs a lot of money to do it. Only a few people in the history of the NBA have been able to pull it off and the majority of them are billionaires.
The Koch family has a similar situation going on with them. The family is led by 88-year-old Charles Koch, who has a net worth of $64.8 billion. The family has previously delved into the world of basketball. Their donations to Witchita State University helped them turn into a college basketball powerhouse. They have a company named Koch Industries, which is a multibillion-dollar company and responsible for the majority of their wealth.
Joe Tsai discussing minority sale of Nets to the Koch Family
It was reported that Joe Tsai, the current owner of the Brooklyn Nets, is considering selling a minority stake in the franchise to the Koch family. Koch family’s investment vehicle, 1888, management sent representatives to inquire about a deal for a 10% stake in BSE Global. BSE Global is Tsai’s holding company, which owns the Nets, the WNBA team New York Liberty, and the Barclays Center.
The representatives of 1888 management have refrained from commenting on anything about the deal, which indicates that the negotiations are still in place. There have been no rumors or news of the deal being confirmed or completed. However, if the money is right, we can see a possible shift in power in the higher management of the Brooklyn Nets. If there is an owner change, it would be a great breath of fresh air for the fans and the franchise. The Nets have slowly lost their dominance in the league and are a shadow of their former selves. A possible owner change can bring them back to glory.
What do you think about the Koch family acquiring a minority stake in the Nets? Do you think an owner change can push the Nets back on top? We are eager to know your thoughts, so drop down in the comments and let us know.
