NBA owners have a combined $10 billion of exposure in China beyond league's $5 billion

[pwaldo]

https://www.dailymail.co.uk/news/art...ted-China.html

Forty principal owners in the NBA reportedly have more than a combined $10 billion tied up in China - investments that have significant impact on the valuation of the teams.

Between the personal investments and NBA China having grown into a $5 billion business, 'the China value of each of the league's 30 teams [is] an estimated $150 million,' according to ESPN, which commissioned the New York firm Strategy Risks to conduct an assessment.

NBA owners invested in China reportedly include the Charlotte Hornets' Michael Jordan, the Brooklyn Nets' Joe Tsai, and the Miami Heat's Micky Arison.

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 this season 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.

The story shines light on the reticence of the league and its owners to speak out against human-rights abuses perpetrated by the authoritarian regime.

'Nobody really wants their name associated with China, but what can they do?' attorney Dan Harris of firm Harris Bricken told ESPN. 'They're sort of betwixt and between. If they say what Americans want them to say, it's death in China. If they say what China wants, it's death in America.'

[ethunder]

Just read this and never realized until now. Crazy!