China Daily reported that Rockets and NBA All-star center Yao Ming returned to Shanghai to announce his acquisition of the Shanghai Sharks, a club which competes in the Chinese Basketball Association. Yao shelled out 20 million yuan to become owner of the team for which he once played (and won a CBA National Championship). His association with the team has boosted the Sharks to prominence, causing all 3,000 tickets for their first match to sell out in within 5 hours.
China Daily: “Yao hopes to excel in new avatar”
China.org’s video report: “Yao Ming Returns to Run Shanghai Sharks”
China Hush: “Yao Ming Bought His Former Club Shanghai Sharks”
China Daily: “Liu’s return to boost Yao’s Sharks“
