BUSINESS
06/25/2009 05:12 am ET | Updated May 25, 2011

Chinese Group Buys Stake In NBA Team

ORLANDO -- The Cleveland Cavaliers have signed an agreement with an investment group from China to become minority owners of the NBA franchise and its arena, a partnership that could affect superstar LeBron James' future with the team.

The Asian conglomerate, which includes JianHua Huang, a Chinese businessman who has brokered sponsorship deals with the New York Yankees and other sports franchises in the U.S., could acquire up to 15% of Cavaliers Operating Company, the entity that owns the team and operates Quicken Loans Arena.

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