(Yicai Global) Oct. 9 -- Joseph Tsai, vice chairman of Alibaba Group Holding Ltd. [NYSE:BABA] did not negotiate on Oct. 5 with the NBA's Brooklyn Nets about buying into the basketball franchise, the company has claimed, as sina.com reported Oct. 6.

Tsai now is talking with the team to try to acquire its shares, whose valuation is around USD2.2 billion, and the deal is likely to wrap up in the next few weeks, Reuters reported Oct. 5. This deal may still possibly fail in the eleventh hour, however, and how many shares Tsai may acquire remains unknown.

"This is false, Alibaba spokeswoman Jennifer Kuperman countered in response to the report. "Joe Tsai has never talked to the seller and he is not purchasing any stake in the Brooklyn Nets," she said.