Joe Tsai will play approximately $3.5 billion for the Brooklyn Nets and Barclays Center.

Tsai's deal with Mikhail Prokhorov could be announced as soon as Friday.

BSE Chief Executive Officer Brett Yormark will announce his resignation.

Tsai previously bought a 49% stake of the team at a $2.3 billion valuation.

In 2010, Prokhorov paid $223 million for an 80 percent stake of the Nets and a 45 percent share of the arena. Prokhorov consolidated ownership of both the Nets and the arena that valued the assets at $1.7 billion.

Joseph Tsai is close to buying the remaining 51 percent of the Brooklyn Nets he does not already own from Mikhail Prokhorov. 

Tsai already owns 49 percent of the team, which he bought for $1 billion last year. The total cost of the team will be $2.35 billion. Tilman Fertitta purchased the Houston Rockets for $2.2 billion in 2017.

The Nets are expected to have an increase of revenues from 10 percent to 15 percent.

Tsai is worth an estimated $9.9 billion.