- Unprecedented Partnership to Result in Development of NBA-Style
Sports and Entertainment Arenas throughout China -
AEG, one of the leading sports and entertainment presenters in the
world, and NBA China, have formed a joint venture to design, market,
program and operate multi-purpose, NBA-style sports and entertainment
arenas in major cities throughout Greater China, it was announced at a
press conference today at AEG’s O2 arena in
London by Mr. Timothy J. Leiweke, President and CEO of AEG and
NBA Commissioner David Stern.
The press conference took place prior to the game between the New Jersey
Nets and Miami Heat as part of NBA Europe Live presented by EA SPORTS.
AEG developed and operates the state-of-the-art O2 arena in London.
The new joint venture will work with government bodies and agencies and
local developers to oversee the design and development of world-class
arenas and entertainment districts. The partnership will manage booking
and marketing of a wide variety of events including basketball and other
sports events, concerts, family shows, cultural events, trade
shows/conventions, and various live entertainment performances.
Where feasible, the arenas will be developed in conjunction with
surrounding cultural and entertainment districts potentially comprised
of restaurants, retail outlets, cinemas, hotels, residential areas,
sports training facilities and smaller live entertainment venues.
The new organization will be equally owned and will oversee all
decisions for each development including identifying target cities and
project sites, arena design and development, procurement of naming
rights and other sponsorships, securing an arena anchor tenant and the
hiring of key personnel.
The first discussion between representatives of AEG and the NBA about
potentially joining forces to create sports and entertainment arenas in
China took place at the O2 arena last October during an exhibition game
between the Boston Celtics and Minnesota Timberwolves as part of NBA
Europe Live presented by EA SPORTS, the league's preseason tour of
Europe. When it was discovered that both organizations were
independently pursuing the development of world-class venues in China,
they determined that working in cooperation would be in the best
interest of each of their entities.
“AEG is the established leader in global arena
development as evidenced by its state-of-the-art facilities in Los
Angeles, London and Berlin.
