Latest news with #JoeTsai
Bloomberg
08-07-2025
- Business
- Bloomberg
WNBA Liberty's Valuation Fuels Barclays Center Expansion
After spending about $3.3 billion to gain control of a Brooklyn-based sports empire, owners Joe Tsai and Clara Wu Tsai have won their first title. Now they want to keep expanding. BSE Global, the parent company of the Nets, Liberty and Barclays Center that the Tsais acquired in 2019, has a strategy to make Brooklyn a bigger destination, which will help build a larger fanbase. The expansion initiative is eclectic, including a wine club, online magazine and potential investments in nearby performance venues, and eventually restaurants and hotels. The Tsais will also shift their focus to another team that needs attention- The Brooklyn Nets. Sam Zussman aims to build on that. He joined BSE as CEO two years ago after more than 15 years at IMG, a conglomerate that includes a media company and events manager. Zussman joins and Bloomberg News Global Business of Sports Reporter Randall Williams to discuss what's next for Brooklyn sports. (Source: Bloomberg)
Yahoo
01-07-2025
- Sport
- Yahoo
Mikhail Prokhorov jokes come out after Nets' Egor Demin pick
The post Mikhail Prokhorov jokes come out after Nets' Egor Demin pick appeared first on ClutchPoints. On Wednesday evening, the Brooklyn Nets used their first of five first round draft selections on point forward Egor Demin as the team looks to add its backcourt rotation. The Nets went on to draft multiple other backcourt players in the first round on Wednesday, drawing the ire of some fans and the applause of others. Advertisement Demin is from Russia, which for some Nets fans signaled a call back to former team owner Mikhail Prokhorov, who also has Russian heritage. 'Did Mikhail Prokhorov buy back the Nets?' wondered one fan on X, formerly Twitter. 'The Prokhorov Effect,' added another. The Nets now of course are owned by Joe Tsai, who acquired the team in 2017. Brooklyn's draft strategy on Thursday signaled a clear vision from the team's front office to draft versatile players who are capable of doing multiple things out on the floor. At 6'9″, Demin can play both the point guard or wing position and can also theoretically guard several positions on the defensive end of the floor. While shooting is a concern at this point for the 19 year-old, there is still plenty of time for that part of his game to get up to speed. Advertisement Helping matters is the fact that the Nets have proven themselves to be one of the better player development teams in the NBA, helping develop players like Cam Thomas, Tyrese Martin, and Drew Timme into solid contributors down the stretch of last season. The Nets don't figure to be competing for contention in the Eastern Conference anytime soon, although that could change in an instant should Giannis Antetokounmpo ever become available from the Milwaukee Bucks. Tsai has shown no problem going big game hunting in free agency and via trades over the past several years. For now, however, the Nets will look to develop the young core of players they brought in on Wednesday. Related: Suns acquire 36th pick in draft trade with Nets Related: Nets' 10 worst NBA Draft day mistakes in history
Bloomberg
27-06-2025
- Business
- Bloomberg
Alibaba Elevates E-Commerce Chief, Shrinks Key Leadership Body
Alibaba Group Holding Ltd. elevated e-commerce head Jiang Fan while trimming the members of a longstanding leadership body, as the Chinese tech giant pivots toward AI and overseas expansion. Jiang, who runs core Alibaba businesses including Taobao and Tmall, has joined a five-member Partnership Committee that in turn steers a group of partners that sit atop the company. That group, which nominates company directors among other things, has shrunk to 17 from 26 members, Alibaba said in its annual report released Thursday. The 39-year-old Jiang becomes the youngest member of the powerful body, which includes Chairman Joe Tsai and CEO Eddie Wu.
Irish Independent
19-06-2025
- Business
- Irish Independent
EU ramps up its efforts to stop Chinese online firms selling illegal goods
The EU's executive arm yesterday unveiled a list of grievances against China-owned AliExpress, which has been under investigation since March 2024 under the Digital Services Act – the EU's content moderation rulebook. In a statement, the European Commission said that AliExpress doesn't adequately moderate the goods sold on its website and fails to 'appropriately enforce' its penalty policy against sellers who repeatedly post illegal content. Platforms with more than 45 million EU users can face fines of 6pc of global yearly sales The commission's preliminary findings now put the platform at risk of a fine. An AliExpress spokesperson said the company is continuing to work closely with the commission and is committed to respecting EU rules. They said they were 'confident that a positive and compliant result will be achieved'. The commission also said AliExpress has committed to changes to systems for detecting and flagging illegal products – such as medicines and food supplements – tracing sellers and making its data more transparent. Alibaba is looking for new areas for growth after its core businesses has fallen victim to ongoing US-China tensions. Company chair Joe Tsai said last month that Asian companies can look for opportunities in Asia or Europe for expansion. Under the Digital Services Act, online platforms with more than 45 million EU users can face fines of 6pc of their global yearly sales for failing to stamp out illicit products or harmful content. Besides AliExpress, other major online platforms – including X, Meta, Temu, TikTok and several pornography platforms – are currently being investigated under the sweeping regulation.
The Star
18-06-2025
- Business
- The Star
EU says AliExpress failed to stop illegal sales in digital probe
The EU's executive arm on June 18 unveiled a detailed list of grievances against China-owned AliExpress, which had been under investigation since March 2024 under the bloc's content moderation rulebook the Digital Services Act. — Photo by on Unsplash The European Union escalated a probe against Alibaba Group Holding Ltd's e-commerce service AliExpress, accusing it of failing to tackle the spread of illegal products on its platform. The EU's executive arm on June 18 unveiled a detailed list of grievances against China-owned AliExpress, which had been under investigation since March 2024 under the bloc's content moderation rulebook the Digital Services Act. AliExpress doesn't adequately moderate the goods sold on its website and fails to "appropriately enforce' its penalty policy against sellers who repeatedly post illegal content, the European Commission said in a statement. The commission's preliminary findings put the platform at risk of a fine. The commission also said AliExpress has committed to changes to systems for detecting and flagging illegal products – such as medicines and food supplements – tracing sellers and making its data more transparent. Alibaba is looking for new areas for growth after its core businesses fell victim to prolonged US-China tensions. Chairman Joe Tsai said last month that Asian companies can look for opportunities in Asia or Europe for expansion. Under the DSA, online platforms with more than 45 million users in the EU can face fines of as much as 6% of their global yearly sales for failing to stamp out illicit products or harmful content. Besides AliExpress, other major platforms including Elon Musk's X, Meta Platforms, e-commerce website Temu, social network TikTok and several pornography platforms are currently being investigated under the sweeping regulation. – Bloomberg
