Conway’s Koch in line to be NBA owner
WALLY HALL
Growing up in Conway, Julia Flesher had many dreams. Owning part of the Brooklyn Nets probably was not one of them. But pending final approval, she is about to become an intricate part of the NBA.
In 1996, Flesher married David Koch and they were together 23 years until he passed away. But before he did, he entrusted all of his ownings into her and their children’s names knowing it was in the best interest of Koch Industries because she had worked at his side almost daily as a personal adviser.
Maybe business just comes natural to the Fleshers. Her brother Greg was a senior partner at Frost PLLC until his retirement last year.
He has served on the Koch Board of Trustees for several years among several local boards.
Julia Koch graduated from the University of Central Arkansas. She worked in New York as a model, advisor for fashion designer Adolfo and personally did fittings for former President Ronald Reagan’s wife Nancy.
Part of the official news release from the Brooklyn Nets on Wednesday stated:
“Joe Tsai, Clara Wu Tsai and their family have agreed to sell a minority stake of BSE Global, the parent company of the Brooklyn Nets, New York Liberty and Barclays Center, to investors Julia Koch and her children, David Jr., Mary Julia and John.”
The transaction is not closed until final approval of the NBA Board of Governors. Terms of the transaction were not disclosed.
The investment comes after extensive and collaborative discussions between the two families. Joe Tsai will continue his position as the chairman of BSE Global and governor of the Brooklyn Nets, and Clara Wu Tsai will remain vice-chair of BSE Global and governor of the New York Liberty. The business and basketball operations of BSE Global will continue to be managed by professional management led by group CEO Sam Zussman, Nets General Manager Sean Marks, New York Liberty CEO Keia Clarke and Liberty General Manager Jonathan Kolb.
“We are pleased to welcome Julia Koch and her family to BSE Global,” Joe Tsai said in the release. “Mrs. Koch’s commitment to New York institutions is an invaluable addition to our franchise. The Nets have a special bond with the Brooklyn and broader New York communities, and we are looking forward to working with Mrs. Koch and her family as we increase investment in our franchise.”
There was a lot more in the news release, but it didn’t mention the purchase price of 15% of the team valued at $6 billion.
Julia Koch is president of the David H. Koch Foundation, which has donated more than $200 million to medical research.
Depending on the day and the stock market, she is either the second- or third-richest woman in America behind Bentonville’s Alice Walton, who is first, and Jacqueline Mars.
Who would have thought Arkansas would have two of the three richest women in America?
Membership has opened for the Little Rock Touchdown Club, the most successful college football club in the country.
The list of speakers will be announced in August by founder David Bazzel. While there’s no way he can outdo last year’s list, which included Peyton Manning and sold out the Statehouse Convention Center in Little Rock, he will.
He always does and has since the club was founded in 2004.
Memberships start at $90 and that includes $10 off the lunch price and with at least 14 meetings, a membership pays for itself. There are five levels of membership, ranging up to $450.
The meetings are more fun than nighttime football.
For more information or to join, go to lrtouchdown.com.
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2024-06-23T07:00:00.0000000Z
2024-06-23T07:00:00.0000000Z
https://edition.arkansasonline.com/article/282939570475875
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