Sale of Minority Stake in New York Nets to Julia Koch

Taiwan-born billionaire Joe Tsai is selling a minority stake in the New York Nets to Julia Koch after the sports concern was valued at $6 billion. Julia Koch and her children will invest in the sports teams. The NBA has approved the deal. Tsai is financially connected to China's authoritarian regime and has defended their crackdwons on dissent. The Koch family is known for supporting the Republican establishment.