| The purpose of reforming Chinese professional basketball (PB) is to establish the modern enterprise system, and the property rights are the core and key of modern enterprise system. Consequently it will be meaningful practically to research the property rights of PB. Neither NBA league nor Chinese basketball administration center (CBAC) oversaw Chinese PB is an economic entity. The relation among companies produced the same kind of products is completely competitive. The same is not true of PB clubs. Therefore, it is meaningful for either sports theory or the theory of property rights to research the PB by the use of the economics of property rights.Positive research methods were used combining with normal research methods. The general rules were summed up by review of historical courses of Amerivan PB. Then the goal model of the property rights of Chinese PB was established according to these rules and Chinese PB context. Finally the countermeasures were put forward. The conclusions was drawn as follows:American PB originated in 1898. National Basketball League (NB11) is the first PB league. Going through three stages such as free competition, oligarch competition and monopoly, American PB typically Characterize competition of neoclassical liberalism. The ownership of American PB belonged to the investors of PB teams at the beginning. The relation between teams and league is principal-agent. The development history of American PB indicated that weaker the competition for funds was, more drastic the cometition for elite players was along with the development of PB. There are three kinds of ownership in NBA teams, that is, 79.3 per cent teams owned by individuals, 13.8 per cent teams being subsidiaries of larger corporations, and 6.9 per cent teams are public corporation.The characters of property rights of NBA teams are: (a) The control rights separating from assets ownership and is more obvious management separating from eminent domain, (b) Stockholders' equity centralization and the Big shareholders obviousely controlled the team, (c) Competitively steady Stockholders' equity, (d) Manageing most of teams by the use of principal-agent and lower agent costs. Exterior and interior governance are used to manage either the league or the teams. There are two types ownership of arenas, public one and private one. The team rents the arena to play games. The rent arrangements mainly included fix rent and deducting certain percentage of admission receipts. The relation of the league and the teams is similar to principal-agent and (lie latter is the part of principal. The nature of the NBA league is quasi-corporation functional strategic league.The characters of property rights of Chinese PB teams are, (a) Public bodies become shareholders that were not personificated. The investors controlled the clubs, (b) There are two kinds of ownership in CBA teams, 41.7 per cent teams owned by individuals or enterprises, 58.3 per cent teams are owned by both public bodies and corporations, (c) The principal-agent relationship is complicated and the agent costs were high, (d) The governance structure were shaped elementarily and need to be consummated. All Chinese PB teams do not have own gym. Most of them use the gym in fix rent. The relation between CBAC and PB teams is eqal in law. The insititution arrangement that CBAC have the ownership of Chinese PB did not coincide with some economic theories such as incomplete contract, the theory of imperfect property rights and the principle of risk compensation.The goal of property rights for Chinese PB is: the PB teams have the ownership of Chinese PB. The Chinese PB league, the nature of which is quasi-corporation functional strategic league, should be established. The council of the Chinese PB league could be composed of exterior and interior members. The goal of property rights innovation for Chinese PB teams is to come into existence public corporation and to shape normative legal governance structure according to the , modern enterprise system.I Chinese PB could...
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