Hisense Named Official Partner of FIFA Club World Cup 2025
01 Nov 2024 16:40
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
The United States Tops Skema Publika's First Annual Sport and Soft Power Ranking
27 Mar 2025 14:05
When New tournaments Meets New Tech, the Old Friend of Football Has New Stories
14 Jul 2025 12:36
Related coverage
CBA team Shenzhen starts 2018/19 season with a new airline partner
23 Oct 2018
Weekly Report: CBA matches occupying the TOP3 ratings list
08 Dec 2015
Weekly Report: CCTV 5 started the New Year in a less prominent way
05 Jan 2016
Scisky partner with CBA for two seasons
25 Oct 2018
2017 CBA 3X3 League tips off in Beijing
25 Jul 2017
More from Yutang Sports
When New tournaments Meets New Tech, the Old Friend of Football Has New Stories
14 Jul 2025
Hisense Named Official Partner of FIFA Club World Cup 2025
01 Nov 2024
The United States Tops Skema Publika's First Annual Sport and Soft Power Ranking
27 Mar 2025
SPORTACCORD confirms Istanbul as Host City for 2025 Convention
13 Mar 2025
Yutang Sports
loading...