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<  Yao on the court, and his most recent game  ~  Yao Ming Will Fully Own Shanghai Sharks !!!

PostPosted: Wed Jul 08, 2009 12:45 am
User avatarPosts: 59329Location: Hong Kong/ChinaJoined: Tue Feb 25, 2003 5:13 am

This is the hottest news these 2 days about Big Yao here in China while everyone else was anxiously waiting for further news about his decision for surgery: conservative treatment, conventional surgery, drastic surgery???

If I were Big Yao, I won't throw my money into the gutter, UNLESS I can have total ownership/decision making right and throw out Shanghai Media Group (SMG, one of the current owners of the team) and Shanghai Sports Bureau from the Shanghai Sharks team.

According to what was reported in the Chinese news, the main reason for the withdrawal of the current operator, the Xiyang Group of Liaoning was that Xiyang Group splashed out RMB 15 Million for last season as funds for refurbishing the stadium and other use (salaries & fringes and running funds for the Shanghai Sharks) just to find out that 1/2 of that fund were used for other unexplained reasons.




Quote:

http://www.chinadaily.com.cn/sports/200 ... 393064.htm

Report: Yao Ming targets home team

Updated: 2009-07-08 09:57

Although the future of China's injured NBA all-star Yao Ming remains unclear, the basketball superstar has made headlines again this week - this time for a business interest in his home team of Shanghai.

According to a media report yesterday, Yao is eying a 20 million yuan ($2.9 million) part ownership of the CBA outfit after the Shanghai Sharks recently encountered financial difficulties following the withdrawal of one of its former sponsors, Xiyang Group.

The coach of Shanghai team said he believed Yao was interested, but said the final contract had not been signed.

"I'm not very clear about the details, because the team didn't join the negotiations, only the Shanghai Media Group (SMG, one of the current owners of the team), Shanghai Sports Bureau and Yao's team," Li Qiuping, coach of the Shanghai basketball team, was quoted as saying by sohu.com.

"The contract has not been signed, so I know nothing about the agreement. After Xiyang Group withdrew its sponsorship, it is difficult for SMG to handle the team by itself. If Yao could take it, it will be very good," Li said.

Founded in 1996, Shanghai Sharks claimed the CBA championships title in 2001-02 season with the help of Yao.

After he left for the NBA, the team failed to stay on top - finished the second to last in the 2008-09 CBA regular season, and Xiyang Group decided to cease its association in January.

SMG have denied Yao's involvement

"I had heard nothing about it until I saw some news from the internet," Zhang Zhengming, general manager of SMG, was quoted by sina.com yesterday.

"At present, there are many parts that intend to purchase the shareholding, and we still have to evaluate their qualities and capabilities," he added.

China Daily


Last edited by pryuen on Wed Jul 15, 2009 6:59 am, edited 1 time in total.

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PostPosted: Wed Jul 08, 2009 12:41 pm
User avatarPosts: 3614Joined: Thu Feb 13, 2003 8:48 pm
I don't think he is interested, he will do it because he is trying to land a helping hand since the team is going through some financial difficulties.


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PostPosted: Wed Jul 08, 2009 8:51 pm
Posts: 17887Joined: Thu Jul 03, 2003 1:31 pm
Why would he do it, when he needs to conserve cash. His own contract is still in doubt.


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PostPosted: Wed Jul 08, 2009 9:17 pm
User avatarPosts: 59329Location: Hong Kong/ChinaJoined: Tue Feb 25, 2003 5:13 am
superjohn wrote:
Why would he do it, when he needs to conserve cash. His own contract is still in doubt.


YOU KNOW SOMETHING??? :idea: :?: :roll:

We don't call you SuperMoronicJean for NO REASONS.
:P

His contract is in doubt???

He needs to save money???


ROFLMAO !!! :P :P :P

Even if he sits out the next 2 years not playing, the Houston Rockets has still to pay him every single dime on his US$ 16M to US$ 17 annual salary guaranteed for the next 2 years.

Besides he got almost double his salary from commercial endorsements on a year-per-year basis.

He is doing it totally out of his loyalty and love of the game for his home team, cos even RMB 20M per year is PEANUTS as far as he is concerned.

And probably he does not need to take a single dime out of his own pocket, cos those could be handled by commercial endorsement money easily.

But like I said, if he really wants to buy out the Sharks, he needs to make sure he kicks out both Shanghai Media Group (SMG, one of the current owners of the team) and Shanghai Sports Bureau and totally owns and runs his own team.


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PostPosted: Wed Jul 08, 2009 9:33 pm
User avatarPosts: 12415Joined: Fri Jul 22, 2005 4:27 pm
pryuen wrote:
superjohn wrote:
Why would he do it, when he needs to conserve cash. His own contract is still in doubt.
We don't call you SuperMoronicJean for NO REASONS.
TamponJean keeps reminding the YMM populace that she continues to wear her moniker, SuperMoronicJean, well.


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PostPosted: Thu Jul 09, 2009 12:17 am
Posts: 17887Joined: Thu Jul 03, 2003 1:31 pm
pryuen wrote:
superjohn wrote:
Why would he do it, when he needs to conserve cash. His own contract is still in doubt.


YOU KNOW SOMETHING??? :idea: :?: :roll:

We don't call you SuperMoronicJean for NO REASONS.
:P

His contract is in doubt???

He needs to save money???


ROFLMAO !!! :P :P :P

Even if he sits out the next 2 years not playing, the Houston Rockets has still to pay him every single dime on his US$ 16M to US$ 17 annual salary guaranteed for the next 2 years.

Besides he got almost double his salary from commercial endorsements on a year-per-year basis.

He is doing it totally out of his loyalty and love of the game for his home team, cos even RMB 20M per year is PEANUTS as far as he is concerned.

And probably he does not need to take a single dime out of his own pocket, cos those could be handled by commercial endorsement money easily.

But like I said, if he really wants to buy out the Sharks, he needs to make sure he kicks out both Shanghai Media Group (SMG, one of the current owners of the team) and Shanghai Sports Bureau and totally owns and runs his own team.


We all know Yao has money but his max contract is now in doubt. How is he going to compare with Lebron or Kobe?


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PostPosted: Thu Jul 09, 2009 2:51 am
User avatarPosts: 3614Joined: Thu Feb 13, 2003 8:48 pm
superjohn wrote:

We all know Yao has money but his max contract is now in doubt. How is he going to compare with Lebron or Kobe?


lol....Man, sometimes you say the dumbest thing. As if he cares about things like that. I think you care about his money more than he does.


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PostPosted: Thu Jul 09, 2009 2:55 am
User avatarPosts: 59329Location: Hong Kong/ChinaJoined: Tue Feb 25, 2003 5:13 am
bayern wrote:

lol....Man, Most of the time, you say the dumbest thing. As if he cares about things like that. I think you care about his money more than he does.


Corrected. :P

We don't call him SuperMoronicJeans for NO REASONS.


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PostPosted: Thu Jul 09, 2009 3:21 am
Posts: 17887Joined: Thu Jul 03, 2003 1:31 pm
bayern wrote:
superjohn wrote:

We all know Yao has money but his max contract is now in doubt. How is he going to compare with Lebron or Kobe?


lol....Man, sometimes you say the dumbest thing. As if he cares about things like that. I think you care about his money more than he does.

Yao is now one of the top earning athletes in the world. How is he going to maintain that without a max contract?


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PostPosted: Thu Jul 09, 2009 3:24 am
User avatarPosts: 59329Location: Hong Kong/ChinaJoined: Tue Feb 25, 2003 5:13 am
Well, personally think, Yao Ming needs not worrying about his contract, either the current one or his cash flow.

The current contract guarantees his future 2 years' income. The commercial endorsement will continue to flow in.

Or this speculation of buying out of Shanghai Sharks should not be bothering him at all.
Not high on his priority list at least. He has the Team Yao to work on it.

The top priority is he has to decide on what route of treatment he is going to take for his injury: Conservative or Surgerical ?? If surgery, the milder one or the drastic one?

Whether the surgery will be a success is remained to be seen. In the worst case scenario, this could be an end-of-career surgery and he could have problem walking for the rest of his life.

Well as far as his future contract is concerned, or how is he going to compare with Kobe or LBJ,
that has to be of LEAST priority now, or IRRELEVANT right now.

ONLY MORONS like SuperMoronicJean will raise concern about
how Yao Ming will fare against Kobe Bryant or Lebron James, if he will not be getting his maximum contract in 2 years time.


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