Jiang Lizhang, the NBA's first Chinese owner, said that “he hopes to use his ties in China to help the Minnesota Timberwolves become a global brand along the lines of the Los Angeles Lakers and New York Knicks”, according to an ESPN report.

Jiang, bought a 5% stake in the Timberwolves and is also part owner of the WNBA's Minnesota Lynx.

"Since I've been a fan of the NBA for so long, I wondered if I could be part of the sport so that I could establish connections between the NBA and the Chinese market, to make my contribution to the development of both," Lizhang Jiang said "I not only know the Chinese market, but also know the international sports market very well.

"I am confident I can transfer my experience and resources in those fields into the basketball business to help the Timberwolves grow in both the Chinese and global markets."

Source: espn

Proofread by Sean O Diobhilin