WASHINGTON, Jan. 23 (Xinhua) -- The WNBA league announced Wednesday that an entity owned by Brooklyn Nets minority owner Joseph Tsai has bought the New York Liberty.

Tsai is also a 49% minority owner and alternate governor of the Brooklyn Nets.

"We are fortunate to welcome Joe Tsai to the WNBA family at a pivotal time for our league," said WNBA Interim President Mark Tatum. "We thank Jim Dolan and The Madison Square Garden Company for their incredible support of the WNBA over the past 22 years and for their commitment to finding the right owner for the Liberty. As active participants in the New York community, Joe and his team are very well-positioned to take the Liberty to exciting new heights."

The team will resume play in New York as the league tips off its 23rd season on May 24, 2019.