Alibaba Cai Chongxin is close to reaching an agreement to buy the NBA Basketball

                                                                                    INQUIRY

      Cai Chongxin, co-founder of Alibaba (BABA.N), is close to reaching an agreement to buy the remaining 51% of the Brooklyn Nets, a source familiar with the matter told Reuters.
According to the source, the deal valued the Nets at $2.35 billion.
Sources said the deal could be announced as early as this month if the negotiations were successfully completed.
Russian billionaire Mikhail Prokhorov sold his 49% stake in the team to Cai Chongxin last April.
The Wall Street Journal took the lead on Wednesday in reporting that the deal would set a new record for professional sports companies in the United States.
The Brooklyn Nets did not comment.


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