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