Stern Says Chinese Investors Seeking Stakes In NBA Is Good For League Growth
NBA Commissioner David Stern on Wednesday said that Chinese investors "inquiring about stakes in teams is a 'very good thing' for the league as it seeks to boost sales in the world’s second-biggest economy," according to BLOOMBERG NEWS. Stern said that the NBA’s revenue in China is "growing by 'double-digits' annually, bolstered by partnerships" with social networking company Sina and Tencent Holdings to "stream more live games online." Stern: "We have been approached by, I will say Chinese investors, as we don’t count their money to see whether they are billionaires or multi-billionaires. If these markets want to invest in the NBA by buying goods, if they would like to buy television rights and certainly if they would like to buy franchises or invest in franchises, I think it’s a very good thing. I have been in favor of that for years.” A plan for a Chinese investment group in '10 to buy a stake in the Cavaliers "was abandoned" (BLOOMBERG NEWS, 10/17).
GOING GLOBAL: Sina and NBA China have expanded their partnership and will provide consumers in China with additional access to NBA content on multiple Sina platforms. The multiyear agreement makes the NBA the first U.S. pro sports league to offer specific Sina destinations for all of its teams online and via mobile, with a live game streamed daily on mobile and original programming. The deal also includes the launch of an online NBA community (NBA).