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Last updated on April 25, 2014 at 1:22 EDT

QSL to Exclusively Manage China’s National Basketball League

February 23, 2010

BEIJING, Feb. 23 /PRNewswire-Asia/ — QSL Sports Limited (QSL) and the
Chinese Basketball Association (CBA) have entered into a long-term binding
contract to manage the National Basketball League (NBL), the CBA announced
today. QSL and the CBA will promote, reform, and exclusively manage the
professional basketball league together. As part of the strategic cooperation
agreement, QSL will invest in the NBL.

QSL Sports is a joint-venture company owned by Mr. Kenneth Huang, the BQ
magazine and Sina.com voted number one philanthropist, and his well-respected
business partner Mr. Adrian Cheng.

QSL Sports co-founders and co-chairmen of QSL Mr. Huang and Mr. Cheng
succeeded over international competitors in signing a contract with the
Chinese Basketball Association. It has been reported that the NBA and other
major international players like AEG had shown interest in investing and
managing the NBL as an important step in the their overall plan in entering
into the Chinese market. QSL which has successfully invested into the CBA team

Jilin Northeast Tiger (now Long-run Tea Basketball Team) turned its focus onto
the NBL in 2009. After more than eight months of negotiation, the two young
Chinese entrepreneurs with the goal of creating a Chinese league for Chinese
people successfully negotiated with CBA officials and completed the contract
signing.

The QSL acquisition of NBL is a milestone in the history of professional
sports in China. Since the reform of the Chinese sports industry, this is the
first time private enterprise is being allowed to have decision power at the
top management to set the rules in a professional sports league. Mr. Huang and
Mr. Cheng will manage this league together with Basketball Administration
Center Chief Director, Mr. XIN, Lan-cheng who is the highest ranking official
in the basketball administration authority. According to CBA, NBL has also
earned overwhelming support from the local government authorities throughout
China.

Today Mr. Kenneth Huang has confirmed this news together with the CBA.
“This is the first time private enterprises will be able to partake at the
highest level of the management and operations of a Chinese professional
sports league. This is a significant page in the history of Chinese
professional sports. NBL has a bright future.” Mr. Huang said.

As QSL owners with many years of western educational and business
background, both Mr. Huang and Mr. Cheng plan to bring more international
elements into the league as well as focusing on supporting the domestic
players and community services. “We really admire the business models of the
best-run western sports leagues such as NFL and British Premier League. They
are the world’s most successful sports leagues.” Mr. Huang stated, “QSL plans
to adopt the best systems from the best sports business models and rapidly
increase NBL’s league value among 300 million basketball fans in China.”

Mr. Huang and Mr. Cheng not only want to build China’s best sports league
brand, they also want the NBL to further enter into the lives of the average
fans. “We want to create a league for the Chinese people. QSL will integrate
more entertainment elements into the league, and players will have more
opportunities to enter into the communities and interact with fans,” Mr. Huang
said, “We really want to give back to the fans, and create a closer bond
between the fans and the league.”

“We are also committed to the Chinese youth sports development charity
work. Adrian and I have already created China’s largest youth sports
development foundation. QSL will provide funds for the under privileged
children throughout China, funding their sports facilities, allowing all
Project Hope schools in China to have their own sports facilities. We want to
let all the under privileged children in China be able to enjoy the happiness
sports can bring to their lives, and develop more youth sport talents,” Mr.
Huang concluded.

The new NBL will officially begin on July 18th. Then, Chinese basketball
fans will have the chance to appreciate and participate in a brand new
professional basketball league.

SOURCE QSL Sports Limited


Source: newswire