Nets said to schedule exhibition games in China; surely this is connected to Greenland deal and/or new EB-5 fundraising plan
NetsDaily reports an exclusive:
The Nets will once again play two preseason games in China next October, part of Mikhail Prokhorov's global plan for the franchise, according to league sources. The announcement may be made as early as Sunday. The Nets will play one game each vs. the Kings, presumably in Beijing and Shanghai. The Kings are the only other NBA franchise owned by an international investor, Vivek Ranadive of India.While Prokhorov indeed aims to globalize the franchise, I'm certain there are larger business reasons for the trip.
Ties with China
|2013-14 EB-5 pitch|
Surely there's an opportunity for collaboration, to highlight and honor Greenland.
Second, Forest City Ratner is in its second effort to raise $249 million in cheap capital from immigrant investors, largely from China, in what's known as the EB-5 program.
|2010 EB-5 pitch|
It's surely a bonus to invite potential or enrolled EB-5 investors to a basketball game and/or to hobnob with retired stars.
The only caveat regarding this is that the games are scheduled for October, according to NetsDaily. By then, most if not all of the EB-5 investors may be signed up.
If that's the case, then attendance at a game wouldn't be part of the sales job, but rather would be a reward for those who've invested in the mysterious "Atlantic Yards II."
Misleading investors, twisting intentions
As I've written, the EB-5 pitch misleads in multiple ways, including the nature of the "project," endorsements that are unrelated to the $1.235B "project", and even the quasi-official name of the sponsoring entity.
Even more strangely, given Greenland's role and the nature of the EB-5 program, the bottom line is this: the Chinese government would profit by selling U.S. green cards to Chinese immigrants.
That violates the spirit, if not the letter, of the immigrant investor program.