Interview with Yiannis Exarchos: to narrate Olympic story in new ways and promote positive values
01 Jul 2024 14:40
As reported by Chinese media, Sports Money, the Chinese Basketball Association (CBA) announced it is to give up the whole of its 30% shares in the CBA League (Beijing) Co. Ltd and sell them to the 20 CBA teams for 8.58 million Yuan.
After the transfer, the shares of each team in the CBA League Company will increase from the original 3.5% to 5%. The CBA will no longer have a stake in or benefit financially from the league. It will mainly be responsible for monitoring the league, as it also plans to gradually give away the right to organize the league’s events.
The decision was announced at a board meeting of the CBA League Company.
The CBA League Company organized a launch ceremony back in November 2016, officially making its public debut. Before that, it had confirmed its board of directors and its shareholders. An advertising company, wholly owned by the Chinese Basketball Association, took 30% and the 20 teams of the league had 3.5% each.
This move is positively rated to be a revolutionary step by the new administration of the CBA led by Yao Ming. It is considered by some commentators to be a successful step in the revolution within the Chinese professional basketball league management.
Proofread by Sean O Diobhilin
Interview with Yiannis Exarchos: to narrate Olympic story in new ways and promote positive values
01 Jul 2024 14:40
Related coverage
Shenzhen Leopards renew deal with Osports
08 Sep 2017
Liaoning Flying Leopards renews deal with Osports
03 Aug 2017
CBA plans to spend 8 -12 years building professional referees team
16 Feb 2017
Damai Sports become the official ticketing partner of 16 CBA teams
16 Oct 2018
CBA Company joins forces with LKL
23 Nov 2017
More from Yutang Sports
Hisense Named Official Partner of FIFA Club World Cup 2025
01 Nov 2024
SPORTACCORD 2024 INSIGHTS: Major Technology Trends Shaping Sports Sector
03 Jun 2024
Interview with Yiannis Exarchos: to narrate Olympic story in new ways and promote positive values
01 Jul 2024
Interview with Thomas Lund: to follow new trends and bring younger generations to the sport
17 Jun 2024
SPORTACCORD 2024 INSIGHTS: Paris 2024 here we come!
02 Jul 2024
Yutang Sports
loading...