Guangzhou Long-Lions to be listed on New Third Board

Guangzhou Long-Lions is expected to be listed on China’s National Equities Exchange and Quotations, also known as the New Third Board, on September 1. 

The team is slated to become the first Chinese Basketball Association (CBA) club on the New Third Board, according to official reports by the club.

Formerly known as Shaanxi Gaitianli Kylins, the team moved from Xi’an to Foshan in 2010 and changed their name to the Foshan Dralions. In 2016, the club moved their home court again to Guangzhou, Guangdong and renamed themselves the Guangzhou Long-Lions. In the 2015-16 season, the team finished in 20th place in the CBA league.

As stated in an earlier report, the Long-Lions’ CBA rival Jiangsu Tongxi has also submitted an application to be listed on the New Third Board and is waiting to be approved.

As a top-flight basketball league in China, the CBA has entered an unprecedented era in terms of TV viewership, sports sponsorship, attendance and ticket revenue. As its commercial contract with Infront China has expired on March 31, the league will seek further business development opportunities.

Source: Sohu

Proofread by William Logsdon