Franchise will be the 15th team in the competition from the 2022/23 season, Sportico reports.
- According to Sportico, Tsai is expected to pay around $ 10 million to take over the expansion team
- Alibaba co-founder already owns NLL’s San Diego Seals and is an investor in the Premier Lacrosse League
Alibaba’s billionaire co-founder Joseph Tsai brings a National Lacrosse League (NLL) expansion team to Las Vegas.
Tsai’s financial commitment will match the price recently paid for the NLL’s Saskatchewan Rush, which the sports store said cost the Priestner family more than $ 10 million, according to Sportico, who first reported the deal.
The team, which does not yet have a name or a venue, will be the NLL’s 15th franchise. Sportico’s report added that the Vegas team will join the league for the 2022-23 season.
“We can confirm that Joe Tsai will own the NLL’s 15th franchise in Las Vegas,” the NLL said in a statement. “More details will be revealed in the coming months when things are formalized.”
Tsai already owns the NLL’s San Diego Seals, which hosted the league’s first game in Las Vegas last year. The 57-year-old, who played lacrosse at Yale University, is also an investor in the Premier Lacrosse League.
Speaking to Sportico, Tsai said: “There is a group of owners who will be very comfortable in the league for the next five to ten years. The league is looking for a big media business. We can take the league to the next level in terms of national sponsorship. Crypto, sports betting – there are plenty of commercial opportunities the league can expand into. “
In addition to his investments in lacrosse, Tsai also owns the National Basketball Association (NBA )’s Brooklyn Nets and the Women’s National Basketball Association (WNBA )’s New York Liberty.