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Old 12-15-2009, 02:34 PM   #4
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Join Date: May 2009
Location: Michigan
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Default Re: China investor finalizes deal to buy part of Cleveland Cavaliers

Originally Posted by insidehoops
Reuters reports:

A Michigan investment firm has finalized a deal to sell its 15 percent stake in the Cleveland Cavaliers to a group led by Kenny Huang, bringing LeBron James' team a step closer to adding the National Basketball Association's first big Chinese investor.

A Cavaliers spokesman declined to comment, but Cavaliers Vice Chairman David Katzman, whose Camelot Venture Group owns the stake being sold, said an all-cash deal was reached and should be approved by year's end. The terms of the deal were not disclosed.

smart move by the investment firm, sell while lebrons still on the team.
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