Alibaba vice chairman Cai Chongxin joins NBA board to help NBA China

Alibaba vice chairman Cai Chongxin joins NBA board to help NBA China

Original title: Cai Chongxin joined the NBA board to help NBA China develop

Author: Qian Tongxin

NBA President Adam Silver said that Alibaba Executive Vice President Cai Chongxin had joined the NBA board of directors at a pre-game conference in Shanghai for the 2008 NBA China Games.

Cai Chongxin is known as the best basketball player in the Alibaba. In October last year, he personally invested more than $1 billion to acquire the NBA Professional Basketball Team's Basketball Nets, with a 49% stake, and plans to take control in 2021.

"Cai Chongxin has a dual background in the Internet and the business sector, and we welcome him to join the NBA board of directors, which will also help the NBA develop better in China," Xiao told First Financial Reporter at a press conference.

Xiao also said that Cai Chongxin hosted the first welcome dinner of the NBA China Games in Shanghai on the evening of October 4 and had in-depth exchanges with him on the development of NBA China. The first financial reporter met a VIP basketball team before coming to Shanghai NBA.

Scott O'Neil, CEO of HBSE, a Philadelphia 76ers owner of one of the NBA China teams, also said in an interview with First Financial Reporter that he and Tsai Chung-xin had discussed HBSE investment in China. Cai Chongxin also has a large investment in technology related fields in the United States.

Cai Chongxin was born in Taiwan, China. He has a Bachelor of Economics and Doctor of Law degree from Yale University. He loves sports very much. When he was studying at Yale University, he liked basketball very much. In recent years, he has been a NBA fan. He also joined forces with Ma Yun in October last year to promote strategic cooperation with the National Association of University Sports (NCAA) Champions League of the Twelve Pacific Universities. Before buying the Nets, Cai Chongxin had bought an expanded team of the American Hockey League (NLL) in San Diego.

After buying the nets, Cai Chongxin also became the top sixth boss of the NBA team. Before Cai Chongxin, China's capital involved in NBA has double-edged sword, sports President Jiang Lizhang. In June 2016, Jiang Lizhang bought a 5% stake in the Minnesota Timberwolves and a 5% stake in the women's NBA Minnesota Bobcats.

NBA has developed into a huge business in China. At present, the main profit models are game revenue, including on-site tickets, advertising and broadcasting rights, media broadcasting fees, athletes'advertising revenue sharing and other corporate brand cooperation.

Xiao Hua pointed out that basketball is currently the most concerned sports field, the NBA also attaches great importance to the development of the Chinese market. Because Yao Ming, NBA has opened up a huge market in China, and the number of fans has reached 300 million. By introducing Chinese players, NBA can also attract more Chinese fans.

The Dallas Lone Rangers, another team participating in this year's NBA China Championship, introduced Chinese CBA MVP star Ding Yanyuhang this year. Dallas lone swordsman to coach Rick Carlisle to the first financial reporter said: "Ding Yan Yuhang is very hard, bring a lot of vitality for the team. We are also considering introducing more excellent Chinese players.

It is worth mentioning that the owner of the Dallas Lone Ranger is Mark Cuban, the famous investor, and the Chinese name of the Lone Ranger was renamed from the former Dallas Mavericks, when the Mavericks and Tencent joined hands to ask Chinese fans for a new Chinese team name because Cuban heard that Chinese fans were playing against young ones. The Chinese name of the cattle team is not satisfactory.

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