Yao buys Chinese basketball team

July 16, 2009 2:43:33 PM PDT
Yao Ming now has something in common with his boss, Houston Rockets owner Les Alexander: they both own professional basketball teams.[SPORTS BLOG: Read the latest from the Eyewitness Sports team]

The Rockets star bought his former basketball team, the Shanghai Sharks, for about $3 million. Yao played for the Sharks from 1997 to 2002 and took them to their only title in 2002 before the Rockets drafted him.

The Sharks tied for the worst deficit in 14 years of the Chinese Basketball Association.

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