Oct 4, 2010, 3:39 PM EST
You want a global game, you get global owners. Like Russian billionaires.
Or entrepreneurs from China. Last season a group from China almost purchased 15 percent of the Cleveland Cavaliers in a deal that fell apart, but now a new one will not.
Sonny Xiao, a sports entrepreneur out of China, will purchase part of the Texas Legends, the Mavericks D-League affiliate based out of Frisco, Texas, as reporrted by ESPNDallas.com. Xiao studied at SMU in Dallas and went on to open RXtreme Sports Consulting in his native China.
The Legends are risk takers, this is the franchise that made Nancy Lieberman the first female head coach of an NBA affiliated franchise this summer.
This is a first step, you can expect a lot more foreign ownership over the years. You have American investors buying English Premiere League teams, and so on and so on. It’s a global market, a global game.
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