Owners of NBA teams have a collective $10 billion invested in China, according to a new report released Thursday.
The NBA has been frequently criticized for doing business with China while refusing to speak against a myriad of issues plaguing the communist nation — including repression of ethnic minorities like the Uyghurs — even as coaches and star athletes lambast the United States for systemic racism. Now, a new analysis from ESPN found that the league’s 40 principal owners “collectively have more than $10 billion tied up in China.”
“The owners’ myriad ties to the world’s second-largest economy leave their businesses vulnerable if they get on the wrong side of the Chinese government or the public there,” the analysis found.
ESPN commissioned Strategy Risks — a firm that quantifies companies’ exposure to China — which discovered that there are two primary ways that team owners find themselves financially tied to the Chinese economy. On one hand, “China has grown so large that it contributes significantly to the value of each team.” On the other, “many NBA owners also have substantial financial interests in China through their other businesses.” – READ MORE