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CBA Jiangsu Dragons to be sold

Friday, 27 Mar 2015 11:00   |   By Yutang Sports

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It is said that the CBA team Jiangsu Dragons is going to be sold and several potential buyers are having talks with the team.

Reporters at Jiangsu Province heard that a company wanted to buy Dragons with 50 million yuan, and was negotiating with the club. They later proved that the news were not fake.

Zhang Shilin, the head of Basketball Management Center of Jiangsu Sports Bureau, said that a number of companies are in communication with the team, and that selling all the shares and part of the shares are both possible.

The team’s current owner is Nanjing Steel Group. The company has owned the team for 20 years since 1995, when CBA first started.

Last year before the season, the team and Basketball Management Center of Jiangsu Sports Bureau both said that the goal of the season was to enter the playoffs. However, the team kept performing badly this season and didn’t fulfill the goal.

Relevant people at the Basketball Management Center said that even if the team is sold, it will still stay in Jiangsu Province.

Now Nanjing Steel Group owns 70% of the team and Jiangsu Sports Bureau Training Centre owns 30%.

Source: Xiandai Kuaibao

Tags: CBA

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