Brooklyn Nets owner Mikhail Prokhorov has agreed to sell full ownership of the Barclays Center and his 51% controlling interest in the Nets to Alibaba co-founder Joseph Tsai.

"It has been an honor and a joy to open Barclays Center, bring the Nets to Brooklyn, and watch them grow strong roots in the community while cultivating global appeal," Prokhorov said in a press release.

"The team is in a better place today than ever before and I know that Joe will build on that success, while continuing to deliver the guest experience at Barclays Center that our fans, employees, and colleagues in the industry enjoy."

The purchase makes Tsai, who previously owned 49% of the basketball team, the sole owner of the Nets.

Rachael Lewis, a spokesperson for BSE Global, which manages the Barclays Center and the Nets, declined to comment on the price of the sale reportedly valued at a record $2.35 billion.

The current team sales record came last year after hedge fund manager David Tepper acquired the NFL's Carolina Panthers for $2.2 billion. Tilman Fertitta, owner of restaurant chain Landry's, also paid $2.2 billion to purchase the NBA's Houston Rockets in 2017.