The purchase of Chongqing Basketball Club was coming to an end

The acquisition of Chongqing basketball team by Beijing Enterprises Group Company Limited was drawing to a close. According to relevant reports, both Administration of Sport of Chongqing and Beijing Municipal Bureau of Sports had shown their approval to the purchase, and the final step to conclude this transaction was just to wait for the ultimate agreement from CBA. However, when reporters asked for more detailed information, an official of the company announced, “I can’t tell you much now.”

Beijing Enterprises Group had, actually, made several attempt to contact the Chongqing Basketball Club for the purchase. After the negotiation with local bureau of sports in Chongqing as well as Beijing, the company has cleared the paths for the transaction of the club. If nothing unexpected happens, the purchase will be successfully achieved, and there will be no doubt that basketball fans will witness exciting battles between the two clubs in Beijing in next season’s CBA.

At present, Beijing Enterprises Group is making an assessment of the club’s asset. What’s more, the evaluation of the asset will be followed with a negotiation about the acquisition price which is one of the most significant topics of the transaction. As for the exact date to finish the purchase, the company refused to disclose more details.

In terms of playing field, Beijing Enterprises Group has not announced any news yet. However, there is no need for fans to worry about the issue, because both National Indoor Stadium and Worker’s Stadium are willing to serve for the club as its home stadium.

Source：Qianlong