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.”

Jiang, who attended Minnesota’s summer league play-off game on Wednesday against the San Antonio Spurs, bought a 5 per cent stake in the Timberwolves and is also part owner of the WNBA’s Minnesota Lynx, whose star Maya Moore plays for the Shanxi Flame in China during the winter.

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.