Joe Tsai is selling a minority stake in the Nets to the Koch family — and setting a staggering valuation for the team while doing it.
“More capital to invest in a great fan experience,” a source familiar with the deal told The Post. “The $6B valuation is not stretched at all if you take into account a potential new NBA media deal, a hot WNBA team with exponential growth, and Barclays Center doing really well as a top concert venue.”
Koch, a 62-year-old New York resident, was married to late billionaire David Koch, and is investing with her three children: David Jr., Mary Julia and John.“I want to emphasize that both our families are committed to making the necessary investments in our franchises to build a sustainable winning culture,” Tsai told BSE employees in a letter, “as well as in the people and physical infrastructure to bring the best of sports and entertainment to our fans and audiences.