As reported this morning on "Fear the Links", the Cavaliersownership group, headed by Dan Gilbert, have been in discussions with Chinese investors about a potential buy-in to the Cavaliers by the Chinese. That deal will apparently become official soon.
The Asian conglomerate, which includes JianHua Huang, a Chinese businessman who has brokered sponsorship deals with the New York Yankees and other sports franchises in the U.S., could acquire up to 15 percent of Cavaliers Operating Company, the entity that owns the team and operates Quicken Loans Arena.
The deal, completed by the sides in recent days, must be approved by the league's board of governors.
Team president Len Komoroski said Sunday the group approached Cavs principal owner Dan Gilbert about the partnership and called the business venture "an exciting new opportunity."
This deal, if approved(and it likely will be because the NBA wants badly to continue its relationship with the Chinese) could have huge implications in the future of the team, and specifically LeBron James.
It is no secret that James is focused on becoming a global icon, and with a deal inplace to create further in-roads to China and Asia, LeBron's star get get bigger and brighter, meaning more income potential. No need for New York if the world is at LeBron's feet.
The move will also provide the team greater capital, something of extreme importance during a tough economy.