David Koch Jr. is about to buy the Nets' ownership stake

NBA

TORONTO – David Koch Jr. is about to become the Nets' newest minority owner – and among the NBA's youngest and richest players.

A source familiar with the situation told the newspaper that Koch Jr., who is still in his late 20s, had been looking for an investment in the team for about a year.

He is now in discussions with Nets owner Joe Tsai about buying a stake in Brooklyn.

Bloomberg I reported the news for the first time.

A source told the newspaper that the talks are advanced and have been going on for more than a month.

The Koch family is one of the richest and most influential families in the entire country, and their political influence is well documented.

Koch Jr.'s father, David Sr., died in 2019, and his mother, Julia, is working with her son on this bid to buy nearly 10 percent of BSE Global, the parent company that owns not only the Brooklyn Nets but also the WNBA's New York Liberty. Barclays Center and many other collectibles.

Julia has donated significantly to the Lincoln Center, where Tsai's wife — BSE Vice President Clara Wu Tsai — is a member of the board of directors. Her wealth is estimated at between $60 billion and $65 billion, depending on the source. Either way, she is believed to be the second richest woman in the world.

This enormous family wealth would make the Koch family the second richest ownership group involved in the NBA, behind billionaire Steve Ballmer, who owns the Los Angeles Clippers.

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A view of the Brooklyn Nets logo before a game in February 2022. Getty Images

Koch Jr. is a big basketball fan and lives in New York City. There are rumors that he initially tried to buy a stake in the Knicks. That would make sense, because Heaven would be his home.

Koch Jr. graduated from Duke University in 2021 with a bachelor's degree in political science and government, and has already worked under Jim Dolan as executive director of membership experience at Madison Square Garden Sports.

Nets owner Joe Tsai.
Nets owner Joe Tsai. Corey Sipkin for the New York Post

Instead, he is now looking to the other side of the East River for a share from the rival Brooklyn Nets.

while Estimated Sportico The Nets are valued at $3.98 billion, and an industry source who spoke with The Post believes the minority stake will be sold at a whopping $4.8 billion valuation.




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