When I read the headline, “Chinese investors close to buying piece of Cavaliers”, I initially thought Chevrolet was selling off their famous automotive model to the Chinese. I mean, Chevrolet needs money, and the Cavalier is inexpensive and easy to customize. Killer synergies, right?
Well I was wrong. A Chinese group of investors is purchasing up to 15% of the Cleveland Cavaliers from Dan Gilbert, the teams’ current owner. It sounds as if nothing will change after this deal gets approved by the NBA. Although, it may given Lebron access to a much larger market for endorsements if he can increase his exposure and popularity in China. Plus, it also gives the Chinese a backup player to cheer on when Yao Ming is injured, like he is right now.