Joseph Tsai, the billionaire co-founder of Chinese e-commerce giant Alibaba, is nearing a deal to purchase the remainder (51%) of the Brooklyn Nets that he does not already own from Russian billionaire Mikhail Prokhorov, New York Post reports.
Why it matters: The $2.35 billion purchase will be the highest price ever paid for a sports franchise, surpassing the $2.2 billion each paid by David Tepper for the Carolina Panthers last year and Tilman Fertitta for the Houston Rockets in 2017.
With television revenue rolling in, Power 5 schools are engaged in a new kind of arms race, paying significantly more money than ever before to coaches in so-called non-revenue sports.
Driving the news:USA Today examined how much money each Power 5 public school paid its head coaches in 23 sports other than football and men's and women's basketball in 2013 and 2018.
