Sports

Major League Soccer to expand to St. Louis

Postcard that says greetings from St. Louis Missouri
Photo: Found Image Holdings/Corbis via Getty Images

Major League Soccer will hold a press conference in St. Louis Tuesday where Commissioner Don Garber will announce that the city has been awarded an expansion team, sources tell Axios.

The big picture: MLS is in the process of expanding to 30 teams, and this would be franchise No. 28. Friendly reminder: In 2006, MLS had just 11 teams.

Chinese billionaire to complete Brooklyn Nets purchase for $2.35B

Joseph Tsai, the billionaire co-founder of Chinese e-commerce giant Alibaba
Joseph Tsai. Photo: studioEAST/Getty Images

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.