Reuters reports: 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… The Sharks shared in 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.
