Would this Canadian billionaire with ties to Steve Nash save the Vancouver Whitecaps?
On the field, the Vancouver Whitecaps have done their job.
Since the beginning of last season, they’ve been one of the best teams in MLS. Their roster is solid, and they have an international icon on the squad in Thomas MĂĽller.
Unfortunately, the Whitecaps need help off the field.
Their struggles for finding a new partner in ownership, along with their search for a new stadium, are well-documented.
And as Whitecaps fans grasp for the fleeting hope of a saviour, one interesting name has arisen.
Joseph Tsai, the co-founder of Alibaba, recently made MLS headlines by selling his shares in LAFC.
Could that have opened the door for him to potentially swoop in and save the Whitecaps?
Tsai has long been considered one of the richest Canadians. The 62-year-old currently has a net worth of US$10 billion, according to Forbes.
He holds a Canadian passport, and while his ties to the country aren’t well-known, a spokesperson for Tsai said he became a citizen in the 1970s when his parents were “naturalized.”
A Brooklyn Nets publication did report that he lived in B.C. as a child, although this isn’t widely publicized.
Tsai ended up moving to the United States at the age of 13, where he attended a private boarding school.
Not only is he one of the richest humans in the world, but he also has an affinity for investing in professional sports clubs.
The Taiwanese-born Canadian’s largest sports investment is in the Brooklyn Nets, where he became a majority owner in 2019. Tsai also owns their arena, the Barclays Center, as part of that deal, along with the New York Liberty of the WNBA.
His investment in sports doesn’t end with the NBA, WNBA, or MLS. He purchased a three per cent stake in the Miami Dolphins back in 2024. Tsai owns the San Diego Seals of the National Lacrosse League and co-owns the Las Vegas Desert Dogs of the NLL as well.
Ironically, one of the other owners of the Desert Dogs is current Whitecaps co-owner, Steve Nash.
Tsai and Nash co-purchased the expansion team, alongside Wayne Gretzky and Dustin Johnson, back in 2021. But Tsai’s relationship with Nash doesn’t end there.
Nash was head coach of Tsai’s Brooklyn Nets for two seasons, between 2020-2022, before the organization parted ways with the B.C.-born basketball star just days into the 2022-23 campaign.
In a 2021 interview with The Athletic, Tsai described Nash as a “friend for life.”
“I enjoy seeing him, hanging out with him, it’s very natural,” Tsai said. “We’re fellow Canadians.”
“I’d love to partner with him on this [Las Vegas Desert Dogs] and more things as well.”
Could the connection between Tsai and Nash, coupled with the fact that he freed up cash by selling his shares in LAFC, be enough for the billionaire to purchase a stake in the Whitecaps? Tsai didn’t immediately respond to a request for this story.
Intriguing connection aside, the bigger question is: do the Whitecaps represent financial opportunity for their buyer?
That’s what people of Tsai’s financial status are likely looking for.
“I told the team in my Family Office, look at this thing as a pure financial investment,” he said last year after his minority purchase in the Dolphins was finalized.
“I have an economic stake in the three per cent of the team,” he said. “Not just an NFL team, but it’s also Hard Rock Stadium, they have Taylor Swift concerts and things that are very popular. They have the franchise for F1 Miami, as well as the Miami Open tennis tournament, so it’s a collection of great assets under one roof.”
The Whitecaps need cash to build a stadium. Tsai, or any owner, likely won’t fork that out unless there’s a plan for monetary growth. However, his vision for investing in sports clubs is highlighted by his work in Brooklyn, where he wants to transform the sports district into a year-round destination.
If there’s an opportunity to do that in Vancouver, while buying in at a low valuation, then perhaps there is an opportunity here between the Whitecaps and Tsai.
Hopefully, for the Whitecaps sake, Nash has put in a good word.
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