According to a letter sent to users on Monday, the NBA approved the sale of 15 % of the parent firm of the Brooklyn Nets, New York Liberty, and Barclays Center. At a post-money business value of around$ 6 billion, businessman Julia Koch and her family agreed to buy a majority stake in BSE Global, which is controlled by Joe Tsai and Clara Wu Tsai.
The offer has one of the highest ever sports team prices in a transaction. Sportico reported on the pending transaction’s status last week and the NBA’s consulting committee’s decision.
Koch, who was married to the late businessman David Koch, is investing alongside her three children—David Jr., Mary Julia and John. On any potential power sales, the family will have the right to receive the initial offer. The Tsais will retain complete command of the team when they are finished, and Koh Industries is never involved.

In a letter last week to BSE employees, Joe Tsai wrote,” I want to emphasize that both our families are committed to making the needed investments in our businesses to build a sustainable winning culture,” as well as in the persons and physical infrastructure to provide our enthusiasts and people with the best of activities and entertainment.”
In addition to the rights to the place and the two major baseball teams, BSE Global’s profile also includes the G-League affiliate of the Nets, their NBA 2K League team, their training facility in Brooklyn, and an outdoor skating rink run in partnership with IMG.
Last year, Sportico valued the Nets and their related businesses at$ 3.98 billion, the 13th highest in the NBA. The Liberty ranked third in Sportico’s recent WNBA team valuations at$ 130 million. With the NBA/WNBA close to a new TV deal worth more than$ 75 billion over 11 years, both teams are on the verge of significant increases in their media revenues. The Barclays Center has had a solid business too. In April, it was the highest- taking area in the world, according to Billboard.
According to a note sent to NBA owners to ask for approval of the deal, whose copy was viewed by Sportico, the enterprise’s$ 6 billion business worth includes$ 1.43 billion in gross debt. The debt breakdown is$ 877 million of “enterprise indebtedness” and$ 550 million of” subordinated owner loans”. Koch and her family are paying$ 688 million in cash for their 15 % interest of BSE Global, implying an equity value of BSE of$ 4.6 billion.
Koch and her family are fair$ 65.6 billion, according to Forbes, making her the next wealthiest woman in the world and 23rd overall. When David Koch, nephew of Charles and Bill Koch, passed away in 2019, the household inherited 42 % of Koch Industries.