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Nets minority owner buys WNBA’s Liberty

An investment group led by Brooklyn Nets minority owner Joseph Tsai has bought the New York Liberty.

The WNBA announced the sale Wednesday. Tsai is co-founder of the Alibaba Group, the Chinese e-commerce giant. He bought a 49 percent interest in the Nets in April.

Liberty owner James Dolan put the team up for sale in November 2017. There had been several potential buyers, with a few close to a purchase. But the deals fell through for various reasons.

The Liberty said before last season the team had “lost money every year since its inception and cumulative losses exceed $100 million.”

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