Iconic American Companies Owned by Chinese Investors

3. Cleveland Cavaliers

Headquarters: Cleveland, Ohio
Bought By: Investor Group led by, Jianhua Huang
Headquarters: Beijing, China

Basketball team the Cleveland Cavaliers burst onto the scene in 1970 with thanks from their sponsors. The team continued to grow in the game over the decades, with backing from Goodyear Tire and Rubber Company. However, in 2019, they got some overseas investors, too.

The Cavaliers signed a deal with Jianhua Huang, a Chinese businessman that previously made deals with the New York Yankees and other teams throughout America. Huang reportedly bought a 15% stake in the Cavaliers. It’s not unusual for sports clubs to have outside investors from overseas.