Alibaba vice chairman Tsai to pick 49% stake in NBA's Brooklyn Nets

Alibaba vice chairman Tsai to pick 49% stake in NBA's Brooklyn Nets

Joseph Tsai, Executive Vice Chairman of Alibaba Group, speaks at the Wall Street Journal Digital Conference in Laguna Beach, California, U.S., October 17, 2017. REUTERS/Mike Blake

Joseph Tsai, vice chairman of Chinese internet conglomerate Alibaba Group Holding Ltd, has struck a deal to buy a 49 percent stake in the Brooklyn Nets of the National Basketball Association, according to two sources familiar with the matter.

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