Joe Tsai and Clara Wu Tsai say their divorce won’t have an effect on the possession or administration of the Brooklyn Nets, New York Liberty or their broader sports activities enterprise, by way of Scott Soshnick and Eben Novy-Williams of Sportico.
In a joint assertion launched Friday, the couple confirmed they may proceed main Brooklyn Sports activities & Leisure (BSE), the dad or mum firm that owns the Nets, the Liberty, Barclays Heart and a number of other associated belongings.
“Joe will stay chairman and Clara will stay vice chair of [BSE],” the couple stated. “Joe will stay governor of the Brooklyn Nets and Clara will stay governor of the New York Liberty. They may proceed to personal and be stewards of the groups with skilled administration in place as they at all times have.”
The Tsais described the separation as amicable, explaining that over time their relationship “developed into extra of a partnership, one in every of operating their companies and elevating their kids collectively.”
In addition they stated they intend to contain their kids within the long-term possession of the franchises.
The couple first bought a minority stake within the Nets in 2018 earlier than taking full management the next yr.
Since then, the worth of each the Nets and the Liberty has elevated considerably, whereas Brooklyn Sports activities & Leisure has additionally added exterior traders, together with billionaire Julia Koch and her household.
