Sharks Expanding Operations In China With Shanghai Team

The Sharks yesterday announced that they will place an Asia Hockey League team in Shanghai called the China Sharks and will open two offices in the city. The team will play its first game at Shanghai's Songjiang Stadium on October 11 and will be operated from offices at the Grand Gateway Shanghai and the Sports Center for Shanghai Universities. Silicon Valley Sports & Entertainment (SVS&E), which operates the NHL Sharks, acquired the rights to professional ice hockey in China last year (Sharks). Sharks officials said that "initially, business operations for the China Sharks will have 10 employees charged with team management, corporate outreach and sponsorship fulfillment." SVS&E said that it "will be working with the government and local Chinese investors over the next five years to build youth leagues and industrial leagues, in addition to developing hockey venues across the country" (BIZJOURNALS.com, 9/17).

FORTUNE TELLER: In San Jose, Scott Harris reports the China Sharks are "moving from Beijing to Shanghai." SVS&E CFO and China Sharks President Charlie Faas said that China's "ambition to host the Winter Olympics in 2022 is a prime reason for its eagerness to build a national hockey program capable of competing on the international level." Faas added that SVS&E has "invested close to $3[M] in the endeavor," but the "upside is potentially huge." Faas: "We own the hockey rights to all of China. We're the gatekeeper. Hopefully, that will be worth something someday." China Sharks GM Chris Collins said, "Yao on ice -- that's the goal"  (SAN JOSE MERCURY NEWS, 9/18).

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