New Nets CEO sees big chance
Two years after agreeing to buy a minority share of the Nets, e-commerce billionaire Joe Tsai was unanimously approved as the owner by the NBA Board of Governors on Wednesday.
Tsai spent $3.5 billion to buy the Nets and Barclays Center — the arena sale did not require league approval — from Mikhail Prokhorov. Tsai, cofounder of Alibaba, called it “an honor,” and praised the job general manager Sean Marks and coach Kenny Atkinson have done in building an also-ran into a playoff team.
Tsai, 55, named former Turner president David Levy to run his sports portfolio. Levy, a White Plains native, will be CEO of the Nets and Barclays, as well as president of J Tsai Sports, a holding company that controls the GLeague Long Island Nets, the WNBA’s Liberty, the National Lacrosse League’s San Diego Seals and a part of MLS’s Los Angeles FC.
“It all starts with putting a competitive product on the floor. That means we have to win games, both in the regular season and the playoffs,” Levy told The Post. “That’ll help us attract more fans.
“We’re going to market our stars, our team, our culture. That’s opportunities for bigger sponsors, and the foundation Sean and Kenny built is going to help me do that.”
The Nets finally have stars to market after landing Kevin Durant and Kyrie Irving in free agency. Levy said the star duo’s gravity is lifting everything from ticket sales to merchandise to sponsorship.
“From what I understand, all those arrows are pointing up. Way up. And that’s not surprising,” Levy said.
“When a team is hot, the building gets hot. When the building gets hot, there are new opportunities around e-sports or other things you want to bring into the building. And it builds up Brooklyn.”
In addition to e-sports, sports betting could be on the table, according to sources. Levy expects the Nets to cash in on the huge bump in interest, with or without a new TV deal.
“When you start thinking about the Kevin Durant comeback story and filming that, just opportunities,” Levy said. “If I can open the contract, great. If I can’t open the contract, we’ll figure out ways to monetize this team.”