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Over the weekend, the Cleveland Cavaliers agreed to sell a 15 percent stake in its franchise to a group of Chinese investors. This is the first major Chinese investment in an American sports team. For more we turn to The Takeaway’s Ibrahim Abdul-Matin.
In the middle of the Eastern Conference playoffs, the Cleveland Cavaliers are making news, and not just for their three-point shots and MVP LeBron James. Over the weekend, the Cavaliers agreed to sell a 15 percent stake in its franchise to a group of Chinese investors. This is the first major Chinese investment in an American sports team. For more we turn to The Takeaway’s sports contributor, Ibrahim Abdul-Matin.