China Investors Make Deal For Stake In NBA Cavaliers

From AFP:

Cleveland Cavaliers majority owner Dan Gilbert has signed an agreement to sell a minority stake in the National Basketball Association team and its arena to a group of Chinese investors.

A Chinese group led by Huang JianHua, a Chinese businessman known as Ken Huang who has a reputation for linking US and Chinese companies, is in position to obtain up to 15 percent of the Cavaliers.

The deal must still be approved by league owners but Len Komoroski, the Cavaliers’ team president, said Sunday the team was approached by the Chinese group and called the venture “an exciting new opportunity.”

CDT EBOOKS

Subscribe to CDT

SUPPORT CDT

Browsers Unbounded by Lantern

Now, you can combat internet censorship in a new way: by toggling the switch below while browsing China Digital Times, you can provide a secure "bridge" for people who want to freely access information. This open-source project is powered by Lantern, know more about this project.

Google Ads 1

Giving Assistant

Google Ads 2

Anti-censorship Tools

Life Without Walls

Click on the image to download Firefly for circumvention

Open popup
X

Welcome back!

CDT is a non-profit media site, and we need your support. Your contribution will help us provide more translations, breaking news, and other content you love.