Koch family’s 15% stake in Nets values struggling NBA franchise at $3.8 billion: source
NY Post
The Koch family’s deal for a 15% stake in Brooklyn Nets parent BSE Global values the struggling NBA franchise at $3.8 billion – and puts the valuation for the parent company at $5.8 billion, The Post has learned.
Julia Koch – the widow of David Koch and one of the richest women in the world with an estimated net worth of roughly $65 billion, according to Forbes – and her three kids agreed earlier this week to pay a little less than $700 million for their chunk of BSE Global, according to a source with direct knowledge of the deal.
The company, chaired by Nets owner Joe Tsai, also includes the WNBA’s New York Liberty and Barclays Center, the highest-grossing arena in the world, according to Billboard.
The source with knowledge of the financial breakdown of the deal said Koch’s 15% stake in BSE Global values Barclays Center at $1.5 billion, and the Liberty at roughly $200 million – a significant spike from the $130 million value the team had at the start of year, according to Sportico.
The Liberty went to the WNBA finals last season and the league has exploded in popularity this year with the addition of rookie phenom Caitlan Clark.
Tsai and the Kochs declined comment.
