Forty principal owners in the NBA have more than a combined $10bn tied up in China, investments that have significant impact on the valuation of the teams, according to an ESPN report published Thursday.
Between the personal investments and NBA China having grown into a $5bn business, “the China value of each of the league’s 30 teams (is) an estimated $150 million,” per the ESPN report.
The story discusses the scrutiny put on the NBA and its owners since then-Houston general manager Daryl Morey’s controversial tweet in October 2019 in support of Hong Kong protesters.
The NBA playoffs returned to state-run TV in China just now after a near three-year ban as a result of Morey’s tweet. The tweet cost the league and owners hundreds of millions and dollars while they worked to repair the damage, per ESPN.