Chinese group buys stake in US basketball team

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 US, could acquire up to 15 percent of Cavaliers Operating Company, the entity that owns the team and operates Quicken Loans Arena.

The league's board of governors must approve the deal, completed in recent days.