Kobe Bryant with the necessary visit to China.
Here’s an update to our last report on China. Meet Kenny Huang, who just dropped about $70 million to purchase 15% of the Cavs (worth around $476 million), as reported by Brian Windhorst.
Meanwhile, UPS has signed a sponsorship deal with the CBA (Chinese Basketball Association). Dream League friend Terry Rhoads, an expert on sports in China, was interviewed in the article on ChannelNewsAsia.com.
A potential $25 billion market with 300 million NBA fans. Remember those numbers!
Here’s the bio on Kenny Huang…
He speaks Mandarin, Cantonese, Japanese and English. He has an undergraduate degree from a Chinese university and postgraduate degrees from two American universities. He knows about roads, electrical infrastructure, used to work on Wall Street and soon will own pieces of basketball teams in both China and America. He splits his time between Hong Kong, Guangzhou and the United States.
And here are his business partners in the Cavs deal…
The primary new partner, according to sources, is Albert Hung, a wealthy Chinese investor in numerous technology businesses. Also believed to be in the group is Adrien Cheng, a young businessman whose family operates New World Development, a massive Hong Kong conglomerate of companies. But Huang is the dealmaker, the key to bringing the parties together.
Finally, it appears that player movement to the CBA (and back) is still happening. RidiculousUpside.com has recently reported on the rejection of Courtney Sims, and the signings of Garrett Siler and John Lucas III, as well as ex-Warrior Marcus Williams.
