Timberwolves' new Chinese stakeholder on buying spree

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A Chinese businessman has bought a minority stake in the NBA's Minnesota Timberwolves, his company and the league said, after taking over Spanish La Liga football team Granada in a 37 million euro deal earlier this month. The deal makes him the first Chinese citizen to have an ownership stake in an NBA team, the league said in a statement. "My goal is to bring China and this great league closer, and build the Timberwolves and Lynx fan base in our country," it quoted Jiang as saying.

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