Oct 12, 2008 - 2:49 PM
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LONDON (Ticker) - The NBA moved a step closer to a potential branded league in China on Sunday with the formal announcement of plans to build around a dozen new arenas in the country in partnership with sports giant AEG.
The announcement, made in London prior to the preseason game between the Miami Heat and New Jersey Nets, signalled the league is determined to push forward with its international development, with NBA commissioner David Stern describing it as a "high priority."
While much has been made of the potential for expansion into Europe, the NBA also has kept close tabs on the Chinese market, where the game has exploded in popularity thanks to such homegrown stars as Yao Ming and Yi Jianlian.
"These venues will be state- of-the-art entertainment destinations and will anchor those communities and will being to them world class sports, cultural and entertainment events," Stern said.
The list of cities has not yet been finalized, and AEG added that some of the venues may be refurbishments of existing facilities. However, most are expected to be newly built.
One blueprint for the new buildings will be the Beijing Arena, which AEG partnered with the NBA to build in advance of this summer's Olympics.
AEG owns several arenas around the world, including the Staples Center in Los Angeles and London's O2 Arena. The company also owns shares in the Los Angeles Lakers and owns outright the Los Angeles Kings and Los Angeles Galaxy among other teams.
Should the NBA eventually expand into China, the company would be an obvious candidate to own a team.
AEG president Tim Leiweke said the company was keeping an open mind.
"We will follow the NBA's lead on where they want to go," he said. "That will be their decision."
