Joe Tsai to take on bigger role with Alibaba, effect on Nets uncertain

Photo by Kevork Djansezian/Getty ImagesNot the breaking news one would expect two days before the Draft.

Joe Tsai, who seemingly was distancing himself from Alibaba, the company he co-founded and the source of his wealth, was instead named chairman of the board Monday, Alibaba announced.

Tsai had been executive vice-chairman of the board. Daniel Zhang, who Tsai had helped pick for the role of chairman and CEO, is out of both roles, being reassigned to run the company’s cloud operations.

The move was a surprise in one sense. Tsai and his new CEO, Eddie Wu, were both part of the group of entrepreneurs who founded Alibaba in 1999 along with the charismatic and controversial Jack Ma, who the…