“Joe is hands-on, hard-driving, and if you don’t fit with that, then he will keep going until he finds the person that fits,” a sports banker said. The Nets’ Big 3 of James Harden, Kevin Durant and Kyrie Irving played just 16 games together. The Taiwan-born billionaire felt Abbamondi was not innovative or data-driven enough, sources close to the situation told The Post. Though the Nets set records for attendance, ticket revenue and sponsorships under Abbamondi, Tsai’s huge investment led him to believe a good showing should have been great. Tsai is now searching for his third top business executive in under three years. Tsai also forced out John Abbamondi, the CEO of Brooklyn Sports Entertainment (BSE), the parent company of the Nets and Barclays Center, who announced in February that he would leave at the end of the season. The Nets were swept in the first round of the playoffs by the Celtics this past week, a humbling end to an underachieving season. He’ll end up paying roughly $100 million in luxury tax, the second-highest bill in NBA history. Tsai handed maximum contracts to stars Kevin Durant and Kyrie Irving, giving the Nets the second-largest payroll in the NBA. Tsai, left, had the NBA’s second-highest payroll this season. Instead, his prior success has not translated to the hardwood. Tsai believed that after he bought the Nets and Barclays in August 2019 he could make it into a state-of-the-art operation like Alibaba, the Chinese ecommerce giant he co-founded and which made him worth roughly $10 billion. The Nets and Barclays Center lost between $50 million and $100 million combined in the 2021-22 season, giving Tsai perhaps the worst financial losses in the NBA, sources with close knowledge of the situation told The Post. The question is whether his demands are too high or the Nets should be doing better financially. Nets owner Joe Tsai cannot easily fire players after a disappointing season on and off the court, but he can sack the CEO, which officially happened this week. Nets receive another silver lining after stars’ departuresīen Simmons’ return to court may not come with Nets Today’s Iconic Moment in NY Sports History: Nets Win the Last ABA Titleīurned by their Big 3, the Nets are relcalibrating what they want most
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