According to an article in the Wall Street Journal,

“The Cleveland Cavaliers have signed an agreement with an investment group from China to become minority owners of the NBA franchise and its arena, a partnership that could affect superstar LeBron James’ future with the team.”

Apparently the group could end up owning as much as 15% of Cavaliers Operating Company, the entity that owns the team and operates the ironically sponsored “Quicken Loans Arena.”

The story suggests that the expanded marketing opportunities in China could help keep LeBron James in Cleveland after next summer, when he will be eligible to become a free agent.

I have two comments.  First, anybody who wants to argue that (h/t to Thomas Friedman) the world is not flat should ponder the implications of this story.  Second, I’m an old guy, so I remember a time when groups from Japan were buying lots of overpriced American assets of questionable real value.  That didn’t work out so well.  Why is it always entertainment related stuff that turns out to be such “interesting” investments for the newly wealthy (Pebble Beach, Rockefeller Center, …)?

In other news, we are waiting for our newest app to be approved for sale on the Apple App Store (it should hit this week).  Version 1.0.1 of iPuck should also hit this week.  (We hope…)

Technorati Tags:  China, iPhone, iPod Touch, Apple, Mobile Perspectives, BluMtnWerx