Jiang Lizhang, the NBA’s first Chinese owner, eager to develop Minnesota Timberwolves
The NBA’s first Chinese owner said on Wednesday he hopes to use his ties in China to help the Minnesota Timberwolves become a global brand along the lines of the Los Angeles Lakers or New York Knicks.
“Since I’ve been a fan of the NBA for so long, I wondered if I could be part of the sport so that I can establish connections between the NBA and the Chinese market, to do my contribution for the development of both,” Jiang Lizhang said. “I not only know the Chinese market, but also know very well about the international sports market.
“I am confident I can transfer my experience and resources in those aspects into the basketball business to help the Timberwolves grow both in the Chinese market and global market.”
Timberwolves majority owner Glen Taylor also sold 9.5 per cent of his team to Manhattan real estate mogul Meyer Orbach, chairman of the Orbach Group in New York City.
Orbach said his immediate involvement will be with the renovation of Target Centre. Given his background in construction and real estate, he said he will consult during the two-year process, giving input on the construction while assisting with design and layout.
“I’m just going to learn from Glen and everyone over at the organisation and see where I can add value and jump in,” Orbach said.
With Karl Anthony-Towns, Andrew Wiggins, Zach LaVine and Kris Dunn as the new faces of the organisation, and Tom Thibodeau in place as head coach, Taylor said the possibility of a title is becoming more of a reality.
Taylor also said he wouldn’t be surprised if other teams find partnerships from China.
“I think it will encourage them. I think there’s more and more business being done between the United States and Chinese companies, so there’s always the possibility of sponsors who want to sell here in the United States,” Taylor said. “I think we’ve got to open a bunch of doors. And I think maybe by my bringing in a partner this will open a number of other doors.”
Jiang said he hasn’t thought about becoming a majority owner of an NBA team. He is focused on helping build the Timberwolves.
“My job is to transfer my expertise and experience in sports business into helping the team gain greater development,” Jiang said. “That is the only important thing for me. You can only talk about more when you’ve done a great job on what you’re focusing on now. The rest will come along naturally.”
Jiang sat courtside on Wednesday with Taylor, plus LaVine and teammates Gorgui Dieng and Nemanja Bjelica. He said he’ll make plenty of time to visit Minnesota so he can watch his newest investment in person during the regular season.
NBA commissioner Adam Silver said the league was “thrilled” to get a Chinese owner aboard.
“Mr Jiang’s business acumen, knowledge of the global sports landscape and strong personal relationships will be tremendous assets to the Timberwolves and Lynx, and he will be an important part of our ongoing efforts to grow the game in China,” Silver said.