In July, China’s Tencent reached a five-year, $1.5 billion deal to remain the league’s exclusive digital partner in China, and it is the NBA’s largest partnership outside of the U.S. CCTV has a lucrative financial partnership with the NBA televising multiple games live each week, including coverage of the playoffs.
What is the deal with the NBA and China?
WeChat is run by Tencent and the order claims that the app puts “national security, foreign policy, and the economy of the United States” at risk, and bans American companies from doing business with it. Per Young, Tencent has a five-year deal worth $1.5 billion dollars to stream NBA games in China.
Is the NBA owned by China?
Within days, both Tencent, the Chinese social media and tech giant that owns the NBA’s streaming rights in China, and CCTV, a state broadcaster that airs games on Chinese television, announced that they would cut Rockets games from their platforms.
Why does the NBA support China?
“We have great respect for the history and culture of China and hope that sports and the NBA can be used as a unifying force to bridge cultural divides and bring people together,” the NBA said.
Does the NBA get money from China?
NBA’s loss of China revenue estimated to exceed $200 million for season. The NBA’s loss of revenue typically generated from China this season is estimated to be at least $200 million, according to Kevin Arnovitz of ESPN.
Who owns the whole NBA?
Originally Answered: Who owns the whole NBA? Like the other major US Sports leagues, there’s no one overarching owner – the league is a collective group of all member franchises and thus owned equally by all 30 teams.
Is the NBA banned in China?
After the NBA was banned on Chinese TV, the US basketball association made a series of public and private gestures in China to quell political tensions that erupted from one NBA player’s infamous pro-Hong Kong tweet.
Does China own America?
For its part, China owned 191,000 acres worth $1.9 billion as of 2019. This might not sound like a lot, but Chinese ownership of American farmland has exploded dramatically over the last decade. … Six states — Hawaii, Iowa, Minnesota, Mississippi, North Dakota and Oklahoma — currently ban foreign ownership of farmland.
Is NBA big in China?
According to one study surveying Chinese internet users, the NBA is the most watched sports league in the country, even edging out the CBA and CSL. Tech giant Tencent has acquired the exclusive rights to broadcast NBA games through 2024-25 in China, in a deal worth $1.5 billion.