An agreement has been reached to set up a management company for The Chinese Basketball Association (CBA), the men's professional basketball league in China. At a meeting held in Dongguan, Guangdong last Saturday, the investors of 18 CBA clubs signed registration documents for the creation of CBA Beijing Company Ltd. 

This means the future CBA businesses and event operations, for example, will be decided by club owners instead of Chinese basketball governing bodies. 

The CBA currently consists of 20 professional teams. As rumour had it, Bayi Rockets FC and Xinjiang Flying Tigers FC were absent from the meeting, because they may have had second thoughts on the salary cap, the profit distribution and the stake ownership. But according to news reports, the investment qualification will be reserved for the two clubs.

It is expected that the new company will be responsible for pro referee training, venue operation, business development, TV broadcasting, the players’ salary cap and youth training.

Source:Xinhua

Proofread by John Devlin