Chinese buy a piece of the Cavs

[Southpaw]

I find this a bit scary for the future of American pro sports. Owners cashing out.

May 26, 2009
| ASSOCIATED PRESS

ORLANDO, Fla. -- The Cleveland Cavaliers have agreed to allow an investment group from China to become a minority owner of the basketball franchise and its arena.

The group, which includes JianHua Huang, a Chinese businessman who has brokered sponsorship deals with the New York Yankees and other sports franchises in the U.S., could acquire as much as 15% of Cavaliers Operating Co., the entity that owns the team and operates Quicken Loans Arena in Cleveland.
[Chinese group buys into Cleveland Cavaliers.] Reuters

Cleveland Cavaliers' LeBron James, center, could see his brand enhanced overseas by playing for a team with Chinese business partners.

The deal, completed in recent days, is subject to approval by the National Basketball Association's board of governors.

If approved, the deal would provide marketing opportunities for the Cavaliers and superstar LeBron James, who is eligible to become a free agent next summer.

The 24-year-old player, who is already among the league's most popular players in Asia, has stated he wants to become the first billionaire athlete.

His brand overseas could be enhanced by playing for a team with Chinese business partners.

Team president Len Komoroski said Sunday the group approached Cavaliers principal owner Dan Gilbert about the partnership and called the business venture "an exciting new opportunity."

Mr. Gilbert's role in overseeing the organization and 20,000-seat arena won't be affected by the new partners.

Observers have speculated that Mr. James will leave Cleveland next year to play in a larger market. But Mr. James and his corporate sponsors, including Nike Inc., have broader goals and may be able to attain them by tapping China's colossal consumer marketplace without him leaving Cleveland.

Mr. James hasn't given any indication he wants to leave the Cavaliers, who drafted the Ohio native in 2003.

He won a gold medal with the U.S. team last summer at the Beijing Games and has made four trips to China, including one with the Cavaliers during the preseason two years ago.

"It's a big market," Mr. James said before Game 3 of the Eastern Conference Final series in Orlando, which the Cavaliers lost to the Orl

 

[YouJustGotSUNSD]

I wonder if I will live to see the day when the name changes to the United States of China...

 

[Shzm13]

Id like to someday own a oice of an nba franchise

 

[Mulli]

I hope they take Cleveland with them.

Hey-o!

 

[Shzm13]

Thats pretty ballsy, considering lebrons future is still up in the air and the cavs would be worthless if he were to leave.

 

[CardsFan88]

Heard it here first, Yao Ming to cavs

Well just saying.

 

[Gaddabout]

I hope they take Cleveland with them.

Hey-o!

3/5

 

[dodie53]

Heard it here first, Yao Ming to cavs

Well just saying.

what about Yi?

 

[Diamondback Jay]

Thats pretty ballsy, considering lebrons future is still up in the air and the cavs would be worthless if he were to leave.

LeBron's not going anywhere. The better the Cavs get, the less likely he leaves. He's playing in his backyard, with a team he grew up supporting. He's making a boatload of money to be the face of a franchise that has never had one of his magnititude before.

He knows that, Steve Gilbert knows that and the new minority owners are aware of that as well.

 

[Shzm13]

Lebron would easily make more off endorsements than he would on his cleveland contract if he were to play in NY.

He would be the face of a bigger and historically better franchise in NY.

The knicks know that, and so does james

 

[Diamondback Jay]

Lebron would easily make more off endorsements than he would on his cleveland contract if he were to play in NY.

Cleveland hasn't seemed to affect his endorsement money so far. He keeps playing like this, you could put him in Sacramento or with the Clippers and he'd make the cash. Production equals results, especially when it comes to endorsement deals.

Hell, LeBron had a nice hefty Nike deal waiting for him before he even played a game in the NBA.

On top of things, he's on a franchise that he's helped rebuild and has them as one of the top 2-3 teams in the Eastern Conference.

He would be the face of a bigger and historically better franchise in NY.

And living in the shadows of the past.

New York fans are ruthless, they want titles every year, they want their star athletes to produce at the highest level every night, all year. Triple double a night? It's all part of the contract. In New York, you damn sure better do that AND lead the team to NBA titles en mass in order to appease them.

As for historically better, perhaps, although if the Cavs make the NBA finals this year; they will be one appearance short of the Knicks, and have been in the league 24 years less. If they win a title, they'll have matched the number of NBA Championships with the Knicks at one.

The only thing the Knicks have on the Cavs is history.. And market size. Also, frankly if we're going to live by fandom, and the what have you done for me lately crowd, who's having the better current run?

LBJ has a chance to carve his own legacy in Cleveland much like Jordan did in Chicago. He's got a good thing going, the Cavs will pay him whatever he wants and he'll go no where. He has no reason to.

 

[asudevil83]

Lebron would easily make more off endorsements than he would on his cleveland contract if he were to play in NY.

He would be the face of a bigger and historically better franchise in NY.

The knicks know that, and so does james

you have this ALL wrong.

with Chinese investment, its now time to pimp LeBron in China. what is bigger, China or NY?

it wont be long before LeBron is on the Yao scale in there. this just about GUARANTEES that LeBron is staying. the Cavs are open for biz in China and there is MAD MONEY to be had there.

 

[overseascardfan]

Heard it here first, Yao Ming to cavs

Well just saying.

That is a conspiracy theory of a rumor that has been posted on SI.

 

[CardsFan88]

I didn't post it, just saying when he entered the league, china wanted to sort of direct where Yao went. It just seems natural that in the eyes of a chinese man (Yao), playing for a team partially owned by Chinese would probably be favorable by both Yao and the politburo or whatever they call it there.

Same could be said for Yi.