The GBA?
Posted: May 26th, 2009 | Author: Scribe | Filed under: Entertainment | Tags: chinese investors, Cleveland Cavaliers, National Basketball Association, NBA | 1 Comment »

By CLS
It appears that the National Baskeball Association may be going global in a big way in the near future. Not with an expansion of franchises to other countries, no sir, but by allowing foreign ownership of its’ multiple franchises here on the American continent.
As AP reported today, “The Cleveland Cavaliers have signed an agreement with an investment group from China to become minority owners of the NBA franchise and its arena, a partnership that could impact superstar Lebron James future with the team.
The Asian conglomerate, 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 up to 15 percent of Cavaliers Operating Company, the entity that owns the team and operates Quicken Loans Arena.”
Considering the xenophobic protectionist measures taken by Congress in the name of “national security” a couple of years ago when a Chinese company legally tried to acquire UNOCAL, and when a Dubai based conglomerate attempted to procure several East coast ports in a similar deal, this is surprising news indeed. Who knows, maybe Carlos Slim will become the new owner of the New York Knicks and take them out of the Eastern Conference gutter at long last?

