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CBA proposal snub dismays Yao
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CHINESE hoops icon Yao Ming has expressed disappointment after the Chinese Basketball Association turned down two proposals from his newly established company, including acquiring commercial rights of the CBA league.
Yao, who was in Beijing earlier this week, told local media that he had made two requests during a meeting with CBA officials on Tuesday as the chairman and general manager of China Professional Basketball Club United Inc — a company founded in February by 18 of the 20 CBA clubs (Shanxi and Zhejiang excluded).
One of Yao’s requests was to make his firm a member of the “CBA company,” a new entity to be established this year, with investment from the CBA and all the 20 clubs. His other request was the authorization of the business and promotional rights of the CBA league. However, both requests were rejected by the CBA.
China Professional Basketball Club United Inc was founded on February 14 with registered assets of 45 million yuan (US$6.9 million). Yao, the legal representative, said in earlier interviews that the company aimed at building CBA into a market-oriented league like the United States-based National Basketball Association which is managed by its investors. Representatives from 18 out of 20 CBA clubs held a meeting on January 16. It was agreed that one of the most important appeal of the incorporated company was to acquire the business rights and promotional rights of the CBA league in its next contract period.
But on January 19 — three days after Yao revealed plans for his company — the CBA league’s office director, Zhang Xiong, announced that a reform project, aimed at reducing the government’s role in management of the CBA, had been approved by the national sports bureau. According to the reform project, a CBA company would be established, which would own the business and promotional rights of the league. The new firm would take full charge of the operation of the league while the CBA would be responsible for supervision, management and professional guidance, said Zhang.
The announcement was like a slap to Yao’s face but the Shanghai native said that he and his company would communicate with the CBA about the future development of the league. “The proposals and suggestions made by China Professional Basketball Club United Inc pointed out the right renovation path for the league,” Yao said in Beijing.
“However, establishing this CBA company is like wrapping our current system up in a company’s shell. It will make no difference and I’ll not agree to (let my club) join such a company,” the Shanghai Sharks owner added.
The CBA will take 30 percent share in the soon-to-be-established CBA company while each of the 20 clubs have 3.5 percent. If Yao’s request of making his company a member of the CBA firm is approved, it would allow China Professional Basketball Club United Inc, with a 63-percent share, to replace the CBA and become the biggest shareholder.
CBA officials told Yao that after the CBA company is established, the company would hold talks with Yao’s firm about possible future cooperation.
“Clubs have spent a lot of effort in building up the CBA league brand. We will not give up easily and will seek other solutions. However, the two proposals are our most basic requests,” said the former Houston Rockets center, who was recently elected to the Naismith Memorial Basketball Hall of Fame Class of 2016 for his role in helping spread the NBA’s popularity to China.
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