AEG and NBA China Form Joint Venture

In an effort to build
off of the success of the 2008 Summer Olympic Games to expand the NBA’s
worldwide reach, AEG and NBA China have formed a joint venture to design,
market, program, and operate multi-purpose, NBA-style sports and entertainment
arenas in major cities throughout Greater China.
The new
joint venture will work with government bodies and agencies and local
developers to oversee the design and development of world-class arenas and
entertainment districts. The partnership will manage booking and marketing of a
wide variety of events including basketball and other sports events, concerts,
family shows, cultural events, trade shows/conventions, and various live
entertainment performances.
feasible, the arenas will be developed in conjunction with surrounding cultural
and entertainment districts potentially comprised of restaurants, retail
outlets, cinemas, hotels, residential areas, sports training facilities, and
smaller live entertainment venues.
The new
organization will be equally owned and will oversee all decisions for each
development including identifying target cities and project sites, arena design
and development, procurement of naming rights and other sponsorships, securing
an arena anchor tenant, and the hiring of key personnel.
The first
discussion between representatives of AEG and the NBA about potentially joining
forces to create sports and entertainment arenas in
took place last October during an exhibition game between the Boston Celtics
and Minnesota Timberwolves as part of NBA Europe Live presented by EA SPORTS,
the league’s preseason tour of
Europe. When it
was discovered that both organizations were independently pursuing the
development of world-class venues in
China, they determined that working
in cooperation would be in the best interest of each of their entities.
is the established leader in global arena development as evidenced by its
state-of-the-art facilities in
Los Angeles,
London and
said NBA commissioner David Stern. “We are excited to partner with AEG in
where the popularity of basketball creates enormous opportunity. Together we
will work with every level of government and the private sector to create
NBA-style sports and entertainment facilities that will anchor communities and
grow the sport of basketball throughout
as an exciting marketplace with a growing appetite for sports and entertainment,”
added Timothy J. Leiweke, president and CEO of AEG. “This is fueled by an emerging
middle class and a great need for state-of-the-art multi-use arenas that can
accommodate NBA games, sporting events and world-class concerts. Using our
expertise and experience to design, manage and program venues in cities that
are looking to create entertainment and cultural destinations will absolutely
be one of the biggest and most important initiatives AEG has ever undertaken.
Partnering with a global entity such as the NBA will become the most critical
component of this initiative as the league’s vision will re-define how the
world views sports in the next decade.”

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