Facebook Twitter 新浪微博 Instagram YouTube Friday, Sep 23, 2016

Yao Ming elected deputy chairman of CBA, elicits speculation about reforms

By Zhang Tianrui (People's Daily Online)    17:36, September 23, 2016
Yao Ming elected deputy chairman of CBA, elicits speculation about reforms

At a preparatory meeting for the corporatization of the China Basketball Association (CBA) in the city of Jinan on Sept. 22, Chinese basketball star Yao Ming was selected as deputy chairman by secret ballot.

Additionally, Li Jinsheng, deputy director of the Basketball Management Center of the General Administration of Sport of China, was recommended to be the board's chairman and legal representative of the newly established CBA Corporation, as major stakeholder.

Early in 2016, Yao, the former NBA star, who is now investor of Shanghai Basketball Club, joined the investors of 18 clubs to set up an alternative organization to the CBA, which Yao hoped would make more measurable progress toward commercialization than the CBA has so far managed to do. In April, Yao stated publicly that the CBA was making small changes, but still not realizing essential commercialization.

However, Lan Chengming, director of the Basketball Management Center, claimed that the association never gave up on reform. To avoid the erosion of State assets, the reform should be led by the General Administration of Sport, together with relevant executive departments, Lan said.

According to its charter, the China Basketball Association accounts for 30 percent of total shares of the CBA Corporation, and each of the 20 clubs takes 3.5 percent.

After this season, China’s basketball league is expected to enter a period of commercialization. Since Yao has been selected as the CBA's deputy chairman, many speculate that reform is likely to accelerate. 

(For the latest China news, Please follow People's Daily on Twitter and Facebook)(Web editor: Zhang Tianrui, Bianji)

Add your comment

Related reading

We Recommend

Most Read

Key Words