Yao Ming new owner of Shanghai Sharks in CBA

[Phantim3dx]

Boss Yao

ESPN based

http://myespn.go.com/s/conversations/show/story/4330776

"
Yao buys Shanghai Sharks


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Reuters

BEIJING -- Houston Rockets center Yao Ming has purchased his financially troubled former club the Shanghai Sharks, Chinese media reported on Thursday.
The seven-time NBA All Star's investment company signed a framework agreement with the club's three co-owners who agreed to sell Yao all their shares in the club, Xinhua news agency said.
"I grew up in the city and became a professional player in this team, so I hope I can do something to help," Yao was quoted as saying on Shanghai TV.
The Sharks tied for the worst deficit in 14 years of the Chinese Basketball Association (CBA) last year and were in danger of failing to start the new season in November because of their dire finances.
The 28-year-old Yao topped the Forbes list of the wealthiest Chinese entertainers with an estimated income of 388 million yuan ($56.81 million) in 2008.
Running the Sharks will cost about 20 million yuan a year, according to the China Business News newspaper.
"In consideration of Yao's affection for the team, his accomplishments in basketball and the experience and vision he has gained from the seven years in the NBA, we believe he is the most appropriate person to the take over the team," said Shanghai Sports Bureau chief Yu Chen.
Yao started playing for the Sharks as a teenager, leading them to their only CBA title before he left for North America in 2002."




Read this on the paper here while taking my afternoon office break. outstanding personally. i wish more players in the NBA wore more loyal and caring to their city in terms of where the palyed and not jsut bounce around for the money.


i hope he doesnt become a 地主 "landowner" (slang for an asshole boss, that exploits his workers)


go yao!


when will he become an american citizen...sigh

[BlacKOEIsle]

Good

[jxuusa]

very nice now maybe with yao somewhat in the action with the sharks they'll perform better.

and you talking about landlord made me think of the landlady from kung fu hustle XD

[mygfluvsblue]

I really admire these kind of athletes who still as humble as they are and are capable of looking back where they came from.

go Yao. hope you can play soon.

[Cammomile]

I really admire these kind of athletes who still as humble as they are and are capable of looking back where they came from.

go Yao. hope you can play soon.

Reminds me of Mountain Motombo...Always going back to his roots..

[PRSURF]

Good!

[cheng200212]

realy?

[big show888]

he is doing everything he can for shanghai
own this team and help the shanghai world expo float in the 2010 rose parade.

vote the shanghai world expo float for the viewer's choice award

http://www.ktla.com/entertainment/roseparade/viewerschoice/

voting end at today 5 pm Pacific time!

[blacklight]

this is a great decision for the chinese star, he knew that basketball is not lifetime. he is preparing for his future though.

[Susie89]

I have included a photo of me 2 weeks into the insanity workout schedule program to compare with when I started so you can see the difference. Just seeing these amazing results after such a short time has given me the incentive and motivation to carry on and push even harder.

[enomakos]

Reminds me of Mountain Motombo...Always going back to his roots..

that true of motombo

[enomakos]

i love the idea

i love the idea

[enomakos]

this is a great decision for the chinese star, he knew that basketball is not lifetime. he is preparing for his future though.

true talk

[rikhardur]

Injured Yao enjoying team owner role in China

BEIJING (AP) -- Sidelined by a foot injury, Houston Rockets star Yao Ming says he's finding a new kind of satisfaction as owner of his former Chinese team, the Shanghai Sharks.Yao bought out the financially troubled team's former owners in July for an undisclosed sum in a bid to revive its fortunes.

The club is presently fourth in the 17-team Chinese league, two points out of first place.

"I bought the Sharks to give them a boost and do something on behalf of Chinese basketball," Yao said in an interview with the official Xinhua News Agency appearing in newspapers Thursday.

"To be honest, they've played well this season, beyond my expectations, but we also see their deficiencies and need to toughen up in the coming seasons."

Yao saved the team after the loss of their main sponsor threatened to keep them out of the league in 2009-2010.

The 7-foot-6 center played for the Sharks from 1997 to 2002 and took them to the league championship title in the 2001-2002 season, after being runner-up in the playoffs the previous two years. The team has struggled to make the playoffs since his departure for the NBA.

Yao has dismissed speculation that the investment was a step toward retirement, although recurring injuries have raised fears that his career could be winding down.

He had surgery in May to repair a hairline fracture in his left foot and has said he wants to allow enough time for his bones to fully heal.

Yao has pledged to return Shanghai to its former winning ways while staying out of day-to-day operations and management. Captained by Chinese international Liu Wei and coached by American Bobby Donewald Jr., the Sharks also boast former Houston Rockets guard John Lucas.

http://www.nba.com/2010/news/01/21/yao.owner.ap/index.html?ls=iref:nbahpt2

[sinobball]

Repost


Documentary about the first (almost miraculous) season since Yao took over... (going from 17th place to 4th place)

Unfortunately this past season has been a disaster for Shanghai. Most of the players in the documentary went to a different team, Garret Siler (also John Lucas for a good portion of the season) went to NBA, Zaid Abbas went to Beijing, Li Gen and Cai Liang went to Qingdao, Luo Xudong went to Jilin etc...

Next season with the signing of Tseng Wen-Ting, possibly some other Taiwanese player, as well as a few players from Jilin as an old part of the deal Shanghai has a very good chance of making the playoffs again. They actually have quite a few very good offensive players but their defense was no longer there after the departure of Abbas.