Joe Tsai and Clara Wu Tsai say their divorce will not affect the ownership or management of the Brooklyn Nets, New York Liberty or their broader sports business, via Scott Soshnick and Eben Novy-Williams of Sportico.
In a joint statement released Friday, the couple confirmed they will continue leading Brooklyn Sports & Entertainment (BSE), the parent company that owns the Nets, the Liberty, Barclays Center and several related assets.
“Joe will remain chairman and Clara will remain vice chair of [BSE],” the couple said. “Joe will remain governor of the Brooklyn Nets and Clara will remain governor of the New York Liberty. They will continue to own and be stewards of the teams with professional management in place as they always have.”
The Tsais described the separation as amicable, explaining that over time their relationship “evolved into more of a partnership, one of running their businesses and raising their children together.”
They also said they intend to involve their children in the long-term ownership of the franchises.
The couple first purchased a minority stake in the Nets in 2018 before taking full control the following year.
Since then, the value of both the Nets and the Liberty has increased significantly, while Brooklyn Sports & Entertainment has also added outside investors, including billionaire Julia Koch and her family.
