The Brooklyn Nets and New York Liberty will continue operating under the same ownership structure despite the announcement that owners Clara Wu Tsai and Joseph Tsai are ending their nearly 30-year marriage.
In a joint statement released through a spokesperson, the couple said the decision was reached “mutually and with great respect for one another,” emphasizing that their relationship had evolved into a professional partnership centered on raising their family and managing their businesses.
For Nets and Liberty fans, the most significant takeaway is that there will be no changes to the leadership or ownership of either franchise.
Joe Tsai will continue serving as Chairman of Brooklyn Sports & Entertainment and Governor of the Brooklyn Nets, while Clara Wu Tsai will remain Vice Chair of Brooklyn Sports & Entertainment and Governor of the New York Liberty. The statement also reaffirmed that the organizations will continue to operate with the same professional management teams already in place.
The couple added that they intend to remain long-term stewards of both franchises and eventually involve their three adult children in the family’s business interests.
Beyond basketball, the statement confirmed there are no plans to sell shares of Alibaba, where Joe Tsai remains chairman, and that the divorce will not impact either of their ongoing business responsibilities.
The Tsais first purchased a minority stake in the Nets in 2018 before completing the acquisition of the franchise, Barclays Center, and the New York Liberty in 2019 in what was then a record $2.35 billion purchase of an American sports franchise. Under their ownership, the Liberty have become one of the WNBA’s premier organizations, while the Nets have remained one of the NBA’s marquee franchises.
The statement also noted that both Joe and Clara Tsai will continue their extensive philanthropic work, including initiatives focused on education, social justice, health, and community development.
While the news marks a significant personal change for one of professional sports’ most influential ownership groups, the message from the Tsais was clear: the business of the Brooklyn Nets, New York Liberty, and Brooklyn Sports & Entertainment will continue without interruption.
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