Mon 14 Jan 2008
Who’s Got Next? NBA CHINA
Posted by Jeff Sack under Main
The “New York Times” Monday reported that the NBA will enter into an agreement with the Walt Disney Company and Four Chinese investment firms to form a subsidiary of the Association called NBA CHINA. Disney and the four investment firms will purchase an 11% share in the league. Disney is also the parent company of ABC & ESPN which both are U.S. outlets for NBA games. The Times is reporting that the Bank of China, China Merchant Bank, Legend Holdings, and billionaire Li Ka-shing who is the controlling force behind Hutchinson Whampoa, a very large Asian corporation. The four companies will have the rights to form teams, and control all Broadcasting rights. NBA CHINA, will not supplant the Chinese Basketball League which is run by the state, rather they will augment it. The Times is reporting that a press conference will be held Monday to announce the deal.
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