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Alibaba co-founder to pay $3.4B for rest of Nets, arena, say sources

The co-founder of Alibaba has agreed to buy the remaining 51 percent of the Brooklyn Nets and Barclays Center from Russian billionaire Mikhail Prokhorov. Two people with knowledge of the details tell The Associated Press the deals worth about $3.4 billion.

Forbes: NY Knicks highest-valued NBA team, worth $4B

The New York Knicks are worth $4 billion, making them the most valuable NBA team for the fourth straight year, according to Forbes . That’s despite having the worst record among the league’s 30 teams.

Cleveland Cavaliers owner selling Detroit casino in $1B deal

The move marks the latest in billions of dollars in investments planned or underway by Gilbert and his companies in Detroit, where he has a major real estate presence. Other projects include a planned skyscraper and technology startups.

Caesars signs promotional betting partnership with NBA, NHL teams

The gaming giant announced Tuesday morning the partnership with Harris Blitzer Sports Entertainment, whose portfolio includes the NBA and NHL team as well as the Prudential Center. Financial details of the deal were not disclosed.

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