Funding & Business
WNBA Liberty's Valuation Fuels Barclays Center Expansion
After spending about $3.3 billion to gain control of a Brooklyn-based sports empire, owners Joe Tsai and Clara Wu Tsai have won their first title. Now they want to keep expanding. BSE Global, the parent company of the Nets, Liberty and Barclays Center that the Tsais acquired in 2019, has a strategy to make Brooklyn a bigger destination, which will help build a larger fanbase.
The expansion initiative is eclectic, including a wine club, online magazine and potential investments in nearby performance venues, and eventually restaurants and hotels. The Tsais will also shift their focus to another team that needs attention- The Brooklyn Nets. Sam Zussman aims to build on that. He joined BSE as CEO two years ago after more than 15 years at IMG, a conglomerate that includes a media company and events manager. Zussman joins and Bloomberg News Global Business of Sports Reporter Randall Williams to discuss what’s next for Brooklyn sports. (Source: Bloomberg)
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Robinhood CEO Vlad Tenev said tokenization could solve the issue of liquidity “by tapping into a global network of hundreds of millions of crypto market participants.” Robinhood is launching their own crypto tokens, including tokens linked to OpenAI and SpaceX, hoping to give retail investors more access to private companies. Tenev says he’s welcoming scrutiny by European regulators. He speaks with Bloomberg’s Francine Lacqua in London. (Source: Bloomberg)
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US President Donald Trump unveiled a wave of letters again threatening key trading partners with high tariff rates even as he delayed the increased duties until Aug. 1 and suggested that he was still open to negotiations.
As the EU says it is making progress on a US trade deal, RBC Wealth Management Fixed Income UK Head, Rufaro Chiriseri joined Bloomberg’s Francine Lacqua to discuss how Trump’s tariff deadline negotiation is playing out in equities and bond markets. (Source: Bloomberg)
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Taiwan’s exports are on a tear, powered by global demand for artificial intelligence — but the boom is becoming a flashpoint in trade relations with Washington and a growing risk for the economy.
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