Chinese Investors have interests in the Cavaliers
Sun, May 24, 2009 By Tariq Ali
The NBA has been encouraging investment in global market, in particular China. In this case, China is coming to the Cavaliers to get a piece of Lebron James.
According to multiple sources within the Cavs, franchise majority owner Dan Gilbert has a tentative agreement in place to allow a group of Chinese investors to purchase a significant stake in the Cavaliers Operating Company, Brian Windhorst reported.
The group is led by JianHua (Kenny) Huang, a Chinese businessman who has become successful by linking American and Chinese companies.
Huang attended game 1 and game 2 of the Eastern Conference Finals and witnessed Lebron’s 3-point clutch shot to beat the Magic.
This deal could be vital to keeping Lebron by providing a huge tie-in with an economy James is eager to tap. At the same time, it might open the door to attracting other major stars to sign with the Cavaliers in free agency.
If the deal comes off, Chinese fans could start to feel a connection to James and it could expand his business interests by remaining with the Cavs past next season when his contract with the team expires.
According to reports, despite record-shattering revenue, including one of the most rewarding local television deals in the NBA despite being in the 17th-largest market — the Cavs are still believed to be losing millions. Their current owners are also heavily invested in industries that have suffered losses over the last two years.
Tags: China, Chinese, Chinese businessman, JianHua, LeBron James
Guess what I’m NOT doing tonight? Definitely not watching, not cheering for, not caring about the Cavs. NOT doing any of this after reading about them seriously considering letting some Chinese businessmen to purchase a stake of ownership in the Cavs organization. No way. Let them invest in their own country. We need to realize the money isn’t important but remaining America is, especially with this being Memorial Day weekend. I go out of my way to buy items not made in China. They are communists and even though this particular businessman may say he isn’t – HELLO, he is. Do we want our Cavs associated with Communism. We will treat our fans and players the way the communistic country treats most of it’s citizens???? We must take a stand and stop the continual flow of Chinese money into this country – we must remain a Democratic Nation – United under God, For Liberty and Justice for all.
Stephanie, please don’t speak unless you know anything about what you are talking about. That was one of the most idiotic statements i’ve read in awhile.
“We need to realize the money isn’t important but remaining American is, especially with this being Memorial Day weekend.” -Stephanie-
Couldn’t agree more.
However, Lebron IS, whether one agrees or not, the full realization of the Basketball potential. At 18 ready to jump out of the gym. Game 3 three-pointer pretty much makes it okay now to believe he’s the Air Apparent. And I’m as die-hard a Jordanaire as it gets.
But.
Sports is an extension of local cultures competing and finding their individual places within groupings of the same. Once stadiums, good plays, awful haircuts and the like begin communicating from the outside as somehow maternal to all what’s going on *insert Rome rant about double plays being brought to you by the Double Stack Pizza from Pizza Hut*,it creates subtle relational changes.
Now the argument is that economical demands make more real world sense than preserving a loyal, emotionally and financially invested populous’s connection to THEIR basketball team?! IT’S THE CLEVELAND CAVALIERS!
As a people, we can’t allow the new wonders of the global economy out pace it’s own cultural responsibility; few day seminar and workshop may be a nice start.
When $ interests begin cutting cultural seams, I think they need to be more careful. Nobody likes sloppy surgeons (uh, that one’s just a guess).
I’m all for this idea. Anything that will help bankroll the Cavs and mainly keep LeBron James in wine and gold go for it, seriously do it now !!!!
Sorry, but such words fall flat in today’s era. China is most definitely not a socioeconomic-based Communist country anymore. America is much more akin to Communism, especially with the current administration investing so much of our debt into failing millionaires and the occasional billionaire. Face it, China is just another country on the world stage now, and to discriminate unfairly against them just because Mao Zedong had some unfavorable policies in our eyes is not only ignorant, but racist, and I’ll be damned if a bunch of racists invade Cleveland. Hu Jintao has taken massive steps to reform the government to position themselves to become rich, capitalistic innovators once again. The future of this world has not a place in it for racists.
We need to look at the positive side of this. If China buys a percentage of the Cavs because of leBron James’ star power; this could be extremely beneficial to Cleveland’s (probably all of Ohio’s) economy. Once they invest in our team, they are investing in our city. Which means, they will bring some of their businesses to our city. Which means, these businesses can and will hire us. A local kid (LeBron) has the potential to truly fulfill one of his dreams which was to put Cleveland and Akron back on the map. Our city, and the neighboring cities desparately needs new industry. This could be great for NE Ohio.
the team better check out the chinese investment group more carefully- need to check that Kenny out- has judgements against him for huge amounts of money.