Shanghai Jiushi Sports Industry Development Group Co., Ltd., a subsidiary of Jiushi Group, has officially completed the 100% equity acquisition of the former Shanghai Oriental Basketball Club, marking that Shanghai men’s basketball has entered a new “Jiushi era”.
Xinhua News Agency, Shanghai, May 28 (Reporter Zhu Di, Guo Jingdan) the reporter was confirmed from Shanghai Jiushi Group on the 28th, after obtaining the written approval of the Chinese Basketball Association’s proposal on equity transfer of Shanghai Oriental Basketball Club, Shanghai Oriental basketball club completed the industrial and commercial change on May 24 and changed its name to Shanghai Jiushi basketball club Co., Ltd. So far, Shanghai Jiushi Sports Industry Development Group Co., Ltd. (hereinafter referred to as “Jiushi Sports”), a subsidiary of Jiushi Group, has officially completed the 100% equity acquisition of the former Shanghai Oriental Basketball Club, it marks that Shanghai has entered a new “long-time era” men’s basketball “.
On April 27, the fifth meeting of the first board of shareholders of CBA company passed the “proposal on equity transfer of Shanghai Oriental Basketball Club” by full vote, announcing that the transfer of equity of the club had settled. Shanghai has been a long time (group) limited Company (hereinafter referred to as “Jiushi Group”) has become the new owner of Shanghai men’s basketball. However, because the relevant procedures such as industrial and commercial changes have not been completed, the relevant information has not been disclosed to the public for a long time until all relevant procedures have been completed.
According to the reporter’s understanding, according to relevant regulations and through negotiation between the two parties, the specific transaction value will not be disclosed by both parties at present, but it is certain that this transaction is the brand value and market prospect of CBA club, it provides new and referential indicators.
As a large public service State-owned enterprise in Shanghai, Jiushi Group has an asset scale of nearly 500 billion yuan, and its main business covers four major sectors: urban transportation, sports industry, real estate and capital management. Long-time sports has been deeply engaged in the operation and venue construction of many international top events such as F1, ATP1000 tennis Masters, universal Equestrian Championship, IAAF Diamond League, etc, it is the leading sports industry operator and mass sports service provider in Shanghai and even the whole country. Taking over Shanghai men’s basketball this time, we will adhere to the enterprise positioning of high-quality public service providers in the city for a long time, make full use of our own resource endowment, give full play to our experience and advantages in the field of sports industry, and fully invest in it, we will make every effort to promote the construction of the men’s basketball club, build a team that matches the city’s status and image, help Shanghai build the capital of international sports events, and launch the “Shanghai service” brand.
The reporter learned from the senior management of Jiushi Group that Shanghai Jiushi men’s basketball, which has entered a new historical stage, will actively introduce high-level domestic players and powerful foreign aid with the goal of winning the league championship, constantly explore young talents, improve the club’s record and improve the team’s core competitiveness. At the same time, the echelon construction and logistics support will be comprehensively upgraded, its own competition venues and training bases will be built, all-round cooperation will be carried out, and an overall long-term development model will be constructed.
It is worth mentioning that within two to three years, the home court of the club will return to Puxi again and enter the Shanghai Gymnasium which is being transformed, namely the “Universal Sports Hall” located in Xujiahui business circle “. At that time, the hardware facilities in the main stadium of the club will be fully upgraded to bring better experience for fans.