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Chinese Investor Finalizing Purchase of Interest in Cleveland Cavs

The NBA should soon have its second major international owner, as Chinese investor Albert Hung has finalized a deal to purchase a fifteen percent in the Cleveland Cavaliers, which would make him the team's second largest owner behind the club's principal owner Dan Gilbert.  The sale needs to be approved by the league's Board of Governors.

The sale to Hung is likely to accelerate the expansion of NBA activity in China, especially that of the Cavaliers and LeBron James.  It may well become a factor in the free agent wooing of James at the end of the season.  James has extensive endorsement activities in China which would undoubtedly could be enhanced through the connections possessed by Mr. Hung.  Since LeBron is on a quest to become a billionaire, that endorsement edge in the Chinese market combined with the Cavs ability to pay more than any other team and the Cavs hometown appeal may all combine to keep LeBron in Cleveland.  At least Dan Gilbert hopes so.

Full post as published by Sports Biz on December 14, 2009 (boomark / email).