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Fomer Chinese NBA star raises RMB10 million

By Pu Yang 07 Mar 2016

Beijing Day-BL Sports and Culture Co. Ltd, founded by former Chinese NBA star Mengke Bateer, has raised around RMB10 million from Angel Investors, according to a report on the Chinese web portal Netease.

In addition to the RMB10 million investments, the investors are offering subsequent help and support to Bateer and his company, stated the CEO of Day-BL at a press conference held in Urumuqi, the capital city of Xinjiang.

The report says DAY-BL is to launch a youth basketball tournament in Xinjiang. The tournament, which will start in April, covers 8 cities in Xinjiang. Over 200 teams and 3,000 participants will take part.

The company also has plans to expand the youth basketball competition to 10 Chinese provinces, including Guangdong, Jilin, Shandong, Hunan, Inner Mongolia and Beijing.

Day-BL is a basketball company founded by Mengke Bateer in 2015.He also set up the Olajuwon Bateer Dream Academy in the US with Hakeem Abdul Olajuwo last year.

Source: Netease

Proofread by John Devlin.

Tags: investment NBA
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