Russian Tycoons Forsake Western Sports Teams as Asians Step Up
Another year, and another Russian billionaire relinquishes ownership of a professional sports club. The latest to do so is Mikhail Prokhorov, who’s selling his stake in the Brooklyn Nets and its arena for a record $3.5 billion to Joe Tsai, the Taiwan-born executive vice chairman of Alibaba Group Holding Ltd. Last August, Alisher Usmanov sold his 30%…
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