Nets and Liberty co-owner Clara Wu Tsai said she hopes to see the two teams continue to be owned by the family for “generations.” Appearing on “The David Rubenstein Show” as part of Rubenstein’s research for his new book, Wu Tsai said even in an era of rising team valuations and record sales across sports, she wants Brooklyn Sports and Entertainment to remain “the family business.” Wu Tsai: “We intend to have this asset in our family for generations. So we are stewards of it and we try to take care of it.” She noted that she has spoken to her three adult children about taking on the teams in the future, telling them that “if they want to be a part of the sports organization, they need to learn a skill that’s valued in the sports business.” Wu Tsai: “Whether that’s data analytics or media rights or negotiations or deal structuring, they should learn that because sports is an emotional business … but on the business side, it really requires and rewards business expertise.” Wu Tsai also touched on several other topics, including:
Owning more teams in the future: Wu Tsai did not dismiss buying additional sports assets in the future, saying that Brooklyn Sports and Entertainment will “selectively” look at buying interest in other teams. Wu Tsai: “Pro sports has become a legitimate asset class and are very good investments.” Growing women’s sports: Wu Tsai touted the growth of the WNBA and women’s sports as a whole in recent years, but still wants to push things further. Wu Tsai: “We are at an inflection point, and I would really like to see women’s sports teams become a scaled, sustainable, durable and profitable business” (“The David Rubenstein Show,” Bloomberg TV, 9/17).