After Cavs, Kenny Huang to have a club in China

By Chen Xiangfeng (China Daily)
Updated: 2009-10-10 08:44

Ambitious Chinese-born businessman Huang Jianhua (who also goes by the name of Kenny Huang) took another big step in expanding his foothold in China's sports market after signing a preliminary deal on Thursday to take over the Jilin Northeast Tigers of the Chinese Basketball Association (CBA).

The reported deal marks the first overseas investment into the league.

Huang, who first made a name for himself after leading a Chinese investment group in buying a 15 percent stake in the NBA's Cleveland Cavaliers in May, will initially take charge of Jilin's commercial and marketing development before completing the takeover at the end of this season.

Detailed information about the framework deal was not available at press time.

Huang, an investor who has also brokered marketing deals with the New York Yankees baseball team and the NBA's Houston Rockets, started to realize his ambition in China in June when his company, QSL Sports, inked a 15-year multimillion-dollar deal with the China Baseball Association to promote the sport among the nation's youth.

More moves linked to Huang and involving China's sports market may reportedly materialize in the near future.

Huang's involvement in the CBA will make the rapidly developing league more interesting and charming next year. All-star center Yao Ming has also put his hands into the CBA's growth when he became the new boss of his home club, the Shanghai Sharks.

Founded in 1996, the Sharks claimed the CBA championship in the 2001-02 season with the help of Yao.

After the championship, he left for the NBA; Shanghai has since failed to produce another title, finishing near the bottom in the 2008-09 regular season.

(China Daily 10/10/2009 page12)