According to recent reports in China, Jiangsu Dragons, a CBA team, has reached an agreement on stakes transfer with a local enterprise named Kentier.

Kentier would accordingly take over 70% stock rights of Jiangsu Dragons at over 50 million yuan.

It was said that the deal would not be finalized until the end of May.

As Xinhua News Agency reported, both sides had confirmed the messages about the deal.

But the rest 30% stock rights are still acquired by Jiangsu Sports Bureau, who did not involve in the talks.

There have been increasing concerns about the potential differences between Jiangsu Sports Bereau and Kentier in location of home court of the CBA team.

Currently the home of Jiangsu Dragon is located in Nanjing Jiangsu.

There are rumors that the home court of the CBA team will remain in Nanjing with most home matches to be played there.

Source: Xinhua News Agency