Shanghai investor acquires stake in Timberwolves

Mainland owner seen helping the team broaden its fan base

Businessman Lizhang Jiang has become the first Chinese owner in a National Basketball Association team with a stake purchase in the Minnesota Timberwolves, weeks after he took control of a Granada-based club playing in Spain's top soccer league.

Jiang, general manager of Shanghai Double-Edged Sports, made the investments "out of his personal interest, as he has a strong passion for sports after working so many years in the sports marketing business in China," said Yu Yue, a spokeswoman for the company. She declined to confirm the size of stake that Jiang took in the Timberwolves.