Joseph Tsai, alongside his soon-to-be-former spouse Clara Wu Tsai, has announced the end of their three-decade-long marriage. The couple, known for their ownership of the Brooklyn Nets and New York Liberty, are parting ways.
“Clara Wu Tsai and Joe Tsai have made the joint decision to conclude their marriage, doing so with mutual respect and understanding,” a representative revealed in a statement provided exclusively to Page Six.
The spokesperson added that, over time, the nature of their relationship transformed into a collaborative partnership. Together, they have managed their business ventures and have shared the responsibilities of raising their children. While they have drifted apart personally, their divorce remains amicable, and their professional rapport continues unshaken.
Further clarification was offered regarding the impact of their separation on their business interests.
“Joe will continue to serve as Chairman, while Clara will uphold her role as Vice Chair of Brooklyn Sports and Entertainment,” the statement elucidated. “Joe will carry on as Governor of the Brooklyn Nets, and Clara will persist as 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. In the long run, they also plan to involve their children.”
Joe and Clara have three adult children: Dash, Alex and Jacob. They married in October 1996.
Ownership of Alibaba, the technology company Joe helped found, will not be impacted.
“There are no plans to sell any Alibaba shares and Joe’s role as Alibaba Chairman is not affected by this development,” the statement read.
“Joe and Clara remain deeply committed to continuing their existing philanthropic and community work. They are both driven by the best interests of their family, businesses, and communities, and are dedicated to continue working together as partners.”
The couple acquired full ownership of the Nets and Liberty in 2019 for $2.35 billion, which was the most expensive purchase of an American sports franchise at the time.
They had obtained a 49 percent stake the year prior. Clara’s involvement led to the Liberty relocating from MSG to the Barclays Center, the home of the Nets in Brooklyn.