Mario Ho, the co-CEO of NIP Group (NASDAQ: NIPG), has invested in the NBA team Boston Celtics, becoming a co-owner and a board member of the team. Ho is also the son of Hong Kong and Macau billionaire businessman Stanley Ho.
On Aug. 19, the Boston Celtics announced that an investor group led by William Chisholm had completed the acquisition of majority control in the team. Ho is the only Chinese name in the investor group, alongside Aditya Mittal, Bruce Beal, Andrew Bialecki, Dom Ferrante, Rob Hale, and Ian Loring. Sixth Street is also a “major participant” in the investment group, the team said in a new release.
The Associated Press reported that Chisholm led the group that bid $6.1 billion USD for the Celtics, a record price paid for a team in the four major North American sports.
“The team and players take the whole Chinese market seriously, and we want to improve our influence in the region,” Ho stated in a recent interview with Tencent Sports. “Joe Tsai, co-founder of Alibaba Group and owner of the Brooklyn Nets, is a good role model for me, and I want to become an ambassador of basketball culture exchange between China and the U.S.”
Co-owned by Ho, the NIP Group’s China businesses are entirely under his operation. In addition to competing in major esports competitions, the League of Legends Pro League (LPL), and King Pro League (KPL), NIP Group also has business in tournament organizing, esports talent management, and Multi-Channel Network (MCN). It’s more likely NIP Group would also expand its business into sports talent management via Ho’s investment, like managing Chinese social media for Celtics players, as well as making crossover campaigns between Celtics players and NIP esports players.
In June, the Portland Trail Blazers selected Chinese player Yang Hansen at the 16th pick in the NBA draft, becoming the third Chinese chosen in the first round. The decision is expected to bring a massive viewership and commercial potential from China to the NBA.