NBA owners stay quiet after ESPN reported an explosive story revealing its ties to China.
ESPN examined the reports of 40 owners and found that NBA owners reportedly have about $10 billion raked up in Chinese investments, causing serious implications for U.S. interest.
This includes one owner’s company who allegedly has a joint venture with an entity which has been sanctioned by the U.S. government.
On top of the money owners receive from the NBA’s business with China, several of them have stakes through other personal businesses as well, leaving it to no surprise why they have stayed silent on the topic.
According to ESPN, NBA China is valued at $5 billion, contributing vastly to every team. That’s about $150 billion that each team receives from the communist country.
It’s no wonder Lebron James caters to the woke consensus. For someone who parades himself as being a champion for social justice, he sure does stay mum on the subject of China.
Robert Kuhn, a longtime advisor to Chinese political leaders and multinational corporations in China, told ESPN this is a “significant problem American companies have,” adding “it creates tension… to see companies promoting social justice in the U.S. but staying silent on what would be perceived to be far worse issues in China.”
Strategy Risks, a New York firm that quantifies corporate exposure in China, evaluated risks NBA owners face by doing business in China, both financially and politically. For instance, Miami Heat owner Mickey Arison, has more than $375 million connected to China through his team and Carnival Corporation business.
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In 2018, the cruise line established a China-based cruise line in a joint effort with China State Shipbuilding Corp. Shortly after this, Carnival confirmed the partnership is “designed to serve the Chinese market.”
According to the outlet, the U.S. government says the communist shipbuilder acts in contrary to the national security or foreign policy interests of the United States.
In addition to the NBA, other companies such as Disney, has been accused of trying to capitalize on Chinese businesses, only to sell out American values.
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