Pacquiao to lift boxing in China
25 Nov 2014 21:01
Reports are emanating that Chinese Basketball Association (CBA) team Shanghai Sharks will to be sold to 4 companies, according to Zhang Yilin from the Shanghai Youth Daily.
The expected resale results from the recent election of former club boss Yao Ming as CBA president, which means the NBA Hall of Famer having to give up his ownership of the Shanghai-based team.
It has been reported by sources that two companies have agreed to purchase one third of Shanghai Sharks shares. The source also said, one of the two buyers is the club’s main sponsor from last season and the other is the parent company of a video website.
They are still in protracted negotiations to finalize the buyer(s) of the remaining two thirds shares.
Yao played for the Shanghai Sharks before he went onto play in the NBA in 2002 and bought the team in 2009. Chinese sports experts estimate that the basketball club is worth up to RMB 1 billion (nearly US$149m).
Source: finance.sina.com.cn
Proofread by Raymond Fitzpatrick
Aiming for 2026? Hisense Released 2022 World Cup Marketing Strategy with Long-Term Perspective
27 Oct 2022 14:31
Related coverage
CBA embraces its first ever travel brand partner
02 Feb 2018
YBDL sign contract with Iverson
26 Oct 2016
Calxon Group became exclusive title sponsor of 2015 National City Basketball Tournament
29 May 2015
Weekly Report: 2017/18 CBA Semifinals took up half of positions on the TOP 10 list
17 Apr 2018
Boao Forum holds first ever sports sub-forum
24 Mar 2016
More from Yutang Sports
France’s Golden Decade of Sport
14 Jun 2023
Yutang Insight:Major Events Marketing Should Forsake “Short-term Conformity and Quick Money"
14 Dec 2022
Future of Sport: a resounding success for the Global Sports Week and Viva Technology collaboration
21 Jun 2023
VivaTech takes the stage as the world's leading event for tech and startups
19 Jun 2023
Aiming for 2026? Hisense Released 2022 World Cup Marketing Strategy with Long-Term Perspective
27 Oct 2022
Yutang Sports
loading...