NBA unveils NBA China
15 January 2008
The National Basketball Association unveiled its new NBA China venture on Monday, AP reported. The new company, which is aimed at strengthening the American professional basketball league's presence in China, will receive US$253 million in investment from ESPN, Bank of China Group Investment, Legends Holdings Limited, the Li Ka Shing Foundation and China Merchants Investments. The NBA said it hopes NBA China, a partnership with the Chinese Basketball Association, will improve the state of professional basketball in China in the lead-up to the Beijing Olympics. NBA China will also handle areas including merchandising, marketing and television.
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