Why is the U.S allowing so much investment by citizens of "unfriendly" countries?
Per Axios:
Alibaba exec snags Nets
A view of Barclays Center during a playoff game between the Brooklyn Nets and Philadelphia 76ers this year. Photo: Matteo Marchi/Getty Images
Joe Tsai, the executive vice chairman of Chinese tech giant Alibaba, is set to buy the NBA's Brooklyn Nets and their home, Barclays Center, for $3.5 billion, reports Bloomberg.
- "Rich Asians have been plowing money into professional sports franchises in Europe and around the world, though buying an NBA team is rare."
- "Chinese investors have taken more stakes in European soccer teams," including powerhouses like Italy's A.C. Milan and Spain's Atletico Madrid.
Posted - August 16, 2019