Last month Minnesota Timberwolves owner Glen Taylor sold 5 percent of the Wolves (and Minnesota Lynx) to Lizhang Jiang, who became the first Chinese owner in the NBA.
In an interview with ESPN.com, Jiang says he sees the Wolves as a global brand that's similar to what the New York Knicks and Los Angeles Lakers are.
"I not only know the Chinese market," Jiang told ESPN. "But I also know very well about the international sports market. I am confident I can transfer my experience and resources in those aspects into the basketball business to help the Timberwolves grow both in the Chinese market and global market."
He told USA Today the Timberwolves have already "gathered a huge number of fans in China" thanks to the popularity of Kevin Garnett and his association with the team.
The Wolves are not the only team Jiang has his hands on. He's also the majority owner of Granada CF, a Spanish soccer based in Granada. Jiang believes his expertise in sports business will help Minnesota develop on a greater scale.
Taylor also said in the interview Jiang's partnership will encourage other teams in the NBA to start partnering with China.
Jiang is not the only new member of the Wolves' ownership group. Taylor also sold 9.5 percent to Meyer Orbach, who has been brought in to help with Target Center renovations.