I’ve been watching the NBA playoffs in bits and pieces. I’ve enjoyed watching LeBron James of the Cleveland Cavaliers. I loved his buzzer-beating three-point shot to beat the Orlando Magics in game two of their series.
I’m also still annoyed with the current legislature and Governor for not preparing Oregon students for a rising China and a globalizing economy. Today those two interests joined. The NY Times ran an article “Cavaliers Agree to Sell Stake to Chinese Investment Group” (here).
An investment group from China has signed an agreement with
the Cleveland Cavaliers to become a minority owner of the N.B.A. franchise and
its arena, a partnership that could affect LeBron James’s future with the team.
The Asian conglomerate, which includes JianHua Huang, a Chinese businessman who has brokered sponsorship deals with the Yankees and other sports franchises in the United States, could acquire up to 15 percent of Cavaliers Operating Company, the entity that owns the team and operates Quicken Loans Arena.
Also note how LeBron views his financial future, and the role of Nike:
There has been speculation that James will leave Cleveland when he becomes a free agent to play in a larger market, like New York or Los Angeles, because it may offer more business opportunities. But James and his corporate sponsors, which include Nike, have broader goals and may be able to attain them by tapping into China’s colossal consumer market without his ever leaving Cleveland.
LeBron and Nike understand the importance of China’s “colossal consumer market.” Oregon’s educational leaders do not.