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Sharks run up record losses for 3rd straight year
By Ni Yinbin |
March 8, 2012, Thursday
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Print Edition
Print Edition
SHANGHAI Sharks recorded losses running into millions for the third straight year but insisted that lack of cash was not the reason that the club failed to make it beyond the playoffs this year.
Sharks manager Zhang Mingji said the club suffered another 20 million yuan in losses, the same as last year.
"We made more income from our sponsors but we invested more in our team as well, so the overall situation has not changed much," Zhang told reporters during an annual meet-the-press conference yesterday. "Under the current circumstances, we were not able to do too much commercial development."
Zhang said money was not a factor in its inability to sign big-name players but said the club was more keen on developing young local talents.
"Yao Ming never turns me down if I ask for more money," Zhang said. "We signed the players we believed best suited the team while we were more keen in investing on local players. After all they're the key to winning the championship."
In fact, the Sharks had contacted an NBA point guard during the lockout but he chose to stay in the United States. "I don't want to mention his name but if we had signed him, the contract would not have been any lesser or smaller than J.R. Smith or Wilson Chandler's," Zhang said. "We wanted to sign Marcus Williams as well but Shanxi was quick in its move."
Zhang said the Sharks had even considered signing Jeremy Lin before the season.
"We had inquired about him through some middleman in the United States but Lin's first choice was NBA and second was some other leagues in Europe," Zhang said.
"We did not know then that he would be such a big name like today. "(But) We saw improvement in Meng Lingyuan, Feng Tian and Zhang Zhaoxu and I believe Tseng Wen-ting and Liu Ziqiu will be better next season," Zhang said.
Sharks manager Zhang Mingji said the club suffered another 20 million yuan in losses, the same as last year.
"We made more income from our sponsors but we invested more in our team as well, so the overall situation has not changed much," Zhang told reporters during an annual meet-the-press conference yesterday. "Under the current circumstances, we were not able to do too much commercial development."
Zhang said money was not a factor in its inability to sign big-name players but said the club was more keen on developing young local talents.
"Yao Ming never turns me down if I ask for more money," Zhang said. "We signed the players we believed best suited the team while we were more keen in investing on local players. After all they're the key to winning the championship."
In fact, the Sharks had contacted an NBA point guard during the lockout but he chose to stay in the United States. "I don't want to mention his name but if we had signed him, the contract would not have been any lesser or smaller than J.R. Smith or Wilson Chandler's," Zhang said. "We wanted to sign Marcus Williams as well but Shanxi was quick in its move."
Zhang said the Sharks had even considered signing Jeremy Lin before the season.
"We had inquired about him through some middleman in the United States but Lin's first choice was NBA and second was some other leagues in Europe," Zhang said.
"We did not know then that he would be such a big name like today. "(But) We saw improvement in Meng Lingyuan, Feng Tian and Zhang Zhaoxu and I believe Tseng Wen-ting and Liu Ziqiu will be better next season," Zhang said.
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