New company to reform, run domestic league
Retired NBA basketball star Yao Ming has shifted his focus to reforming the game at home after a new company was established based on his proposal to run the domestic league professionally.
The Chinese Basketball Association, together with 20 top-tier clubs, announced on Tuesday the establishment of CBA League (Beijing) Sports Co.
Its task will be to reform the administration of the domestic league through more professional approaches in commercial and athletic operations.
Citing the example of the NBA, which is jointly owned by team investors and managed by professional executives, Yao led a group of representatives from 17 other clubs in negotiations with the government-controlled association for months before the company was officially registered in October.