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Showing posts with label Julia koch. Show all posts
Showing posts with label Julia koch. Show all posts

Tsai's minority ownership sale to Koch's start of something bigger

 All big things start small. When the New Jersey Nets were owned by YankeesNets LLC in the early 2000's, there was a New York City real estate mogul that threw his hat in the ownership ring.

His name: Bruce Ratner. He's the main impetus for the Nets moving to Brooklyn and he used the deep pockets of then minority owner Mikhail Prokhorov in 2010 to help make it happen two years later.  

Prokhorov made big championship promises and mortgaged the future to chase said dreams. Once that endeavor failed, Prokhorov accomplished his mission of moving his Russian financial assets over to the United States and sold a majority stake in the team to current owner Joe Tsai in 2017. 

Two years later, Tsai took full ownership control and now five years after that has sold a 15 percent stake in the team to Julia Koch of the notorious Koch family for a whooping $6 billion valuation.

Are we sensing a pattern here? 

Anytime the Nets have had a minority owner the last few decades, that said party ends up taking full control of the team.

Expect that with the vast family fortune that the Koch family has amassed that's it's only a matter of time before Tsai sells.

Tsai has multiple business ventures outside of the Nets that command his time and attention. There have been multiple superstars that bailed on the franchise with him at the helm.

I don't think Nets fans would be sad to see him go. Both the Tsai's and Koch's have skeletons in their closets, but the former has had a brutal ownership tenure.

The question is not if, but when there is another ownership change in Brooklyn.