Yao Reaches 'Agreements in Principle' with Sharks

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Last updated at: (Beijing Time) Saturday, June 22, 2002

Yao Reaches 'Agreements in Principle' with Sharks

Chinese star center Yao Ming and his representatives has reached "Agreements in Principle" on how they would compensate the Shanghai Sharks if any NBA team pick him in the 2002 NBA draft next week.

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Chinese star center Yao Ming and his representatives has reached "Agreements in Principle" on how they would compensate the Shanghai Sharks if any NBA team pick him in the 2002 NBA draft next week.

"We have reached agreements in principle with the club," Yao's representative Zhang Mingji, or Known as Eric Zhang in the United States, told Xinhua from Shanghai.

Yao and Zhang made their final offer Thursday and it seemed the Sharks finally accepted it.

"We have made our final offer today to the Shanghai Sharks," Zhang told Houston television station KRIV on Thursday.

However, Zhang declined to go into details of the agreements.

"We'd like to keep it confidential," Zhang said.

A press conference will be held late Saturday in Shanghai, where the 2.26-meter (7-foot-5) center was born and the club was based, on Yao's play in the NBA.

Yao, who is now training with the Chinese national team in their preparations for the World Men's Basketball Championship in Autumn and the Asian Games in October, will need approvals from his club, Shanghai Sports Administration Bureau, the CBA and the State Sports General Administration to play in the NBA.

"Our next step will be to reach certain agreements with the CBA, " Zhang added.

The CBA announced on Friday that Yao would not present at the NBA draft scheduled on June 26 but it would not affect Yao's future in the NBA.

"Whether Yao be present at the Draft or not, it will not affect his future in the NBA," read a press release form the CBA.

Yao admitted it would be a pity to be absent from the assembly but accepted the decision calmly.

"It's a pity, but the most important thing for me is to play in the NBA," Yao told Xinhua on Friday.

"It will not affect his position in the draft," Zhang Mingji said.

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