It was in negotiations and it is now official: Julia Koch and his children became minority shareholders in BSE Global, the “holding company” which owns the Brooklyn Nets, in the NBA, but also the New York Liberty, in the WNBA, as well as the Barclays Center, the venue where the two franchises play.
According to Sportico, Joe Tsai will thus sell 15% of his “holding company”, valued at six billion dollars. Which means the price of entry would be around $900 million.
A trifle for the widow of David Koch. When the patriarch died in 2019, Julia Koch and her children inherited 42% of Koch Industries (oil, chemicals, natural gas, livestock, finance, etc.), their fortune being estimated at $65.7 billion, which makes of Julia Koch the 23rd richest person in the world.
“We are pleased to welcome Julia Koch and her family to BSE Global”, rejoices Joe Tsai. “Ms. Koch’s commitment to New York institutions is an invaluable asset. The Nets have a special connection to Brooklyn and New York communities at large, and we look forward to working with Ms. Koch and her family as we increase investment in our franchise. »
The Taiwanese-Canadian businessman assures that this investment will not change anything in the governance of the two franchises, but given his influence, having the Koch family at his side is necessarily an asset.
“Our family is honored to join the Tsai family in shaping, advancing and contributing to our shared vision for the future of the Nets, the Liberty and the broader Brooklyn community.”concludes Julia Koch.
