Future of Sport: A Global Sports Week x Viva Technology Collaboration, Will Open in June 14
12 Jun 2023 14:59
It has been reported by the Shanghai Observer, a news app created by the state newspaper Jiefang Daily, that the Everbright Sports Fund have made the decision to fully purchase the Shanghai Sharks, becoming the new owners of the CBA basketball club.
On 25 May, the famous Shanghai coach, Li Qiuping, arrived at the Shanghai Sharks’ training base, the Shanghai Meilong Training Base, as the head coach of the club. Li Qiuping had previously made it clear that for him to return to the Shanghai Sharks, the only condition was that the club had a new owner. At the signing ceremony between the club and Li Quiping, it was Fan Nan, the General Manager of Everbright Capital, Principal Partner & President of Everbright Sports, who represented the new investors of the club.
In the first half of 2016 when Yao Ming was the President of Sharks, he sold a share of his stakes to the Everbright Sports Fund. At the end of 2017, Yao sold 40 percent of his shares in the Shanghai Sharks to 4 companies including CMC Holdings and Everbright Capital.
Everbright Sports Fund is administered by Everbright Capitals, Shanghai Leadbank Asset Management Co. and China National Sports Group. It is said that the Everbright Sports Fund focuses on three areas, pre-IPO sports companies, sports tourism and sports industry.
Source: NetEase
Proofread by Raymond Fitzpatrick
Future of Sport: A Global Sports Week x Viva Technology Collaboration, Will Open in June 14
12 Jun 2023 14:59
SportAccord 2024 - sport as a ‘powerful, transformative tool’ under spotlight at CityAccord
29 Mar 2024 20:16
Related coverage
CBA to set up management company
18 Jan 2016
CBA and Infront China present national 3x3 basketball tournament
29 Jan 2018
CBA signs three-year partnership with Osports
21 Sep 2017
Lihon Lubricant sponsors China men’s national basketball team
10 Nov 2017
Fujian SBS become CBA club Fujian Sturgeons' title sponsor
14 Sep 2017
More from Yutang Sports
HealthAccord spotlights mental health and female athlete well-being
08 Feb 2024
SportAccord 2024 - MediaAccord is ‘rare opportunity’ to meet before Paris 2024
08 Mar 2024
Gender equality will be reflected at OBS's coverage of the Paris 2024 Olympic Games
16 Apr 2024
SportAccord Summit 2024 Logo Unveiled
29 Nov 2023
SportAccord 2024 - sport as a ‘powerful, transformative tool’ under spotlight at CityAccord
29 Mar 2024
Yutang Sports
loading...