In fact, Huawei did not expect to be selected by Min Congda as the naming sponsor of the arena.
How come I, a Chinese company engaged in communications engineering, was roped in to sponsor an American arena?
However, it is not impossible for communication companies to sponsor arenas. The Spurs' home court was named by the American communications giant AT@T.
The main reason why Min Congda picked Huawei was that he had the impression that many years later, Huawei would be targeted by the United States.
When the time comes, the arena that names it will definitely be in trouble as well, which is not a good thing for Min Congda.
Huawei was also surprised. After all, they were just joining in the fun, and the price they gave was not sincere.
Just because Huawei wanted to expand its business in the US market, it followed the trend of a group of Chinese companies with overseas operations and participated.
Unexpectedly, Min Congda chose Huawei over many well-known large companies. Huawei executives were very embarrassed after learning the news and wanted to double the sponsorship fee, but Min Congda sternly refused.
"In doing business, the most important thing is to be honest. The price you agree on at the beginning should be that price. How can you just raise the price and add money at will? You can't add money, and that's it."
Therefore, Huawei obtained the naming rights of the Clippers' new arena for five years with a mere offer of US$5 million.
At US$1 million a year, this fee is lower than the US$1.8 million annual naming fee of Oracle Arena.
And, what kind of venue is Oracle Arena? The old arena built in 1966 can earn US$1.8 million a year.
The Clippers are a brand new arena under construction, and its size and advanced level are unrivaled in the league.
At Min Congda's strong request, the arena was designed to exceed the scale of an ordinary basketball arena, with a capacity of an astonishing 25,000 spectators.
In fact, many newly designed arenas no longer pursue excessively high attendance numbers.
On the one hand, too many people will pose a major challenge to stadium management, stadium design, logistics services, etc., and will greatly increase operating costs.
On the other hand, with the development of live TV and online live broadcasts, it is no longer so important to have more seats and sell more tickets, but the on-site viewing experience is more important.
If there are too many people, the viewing experience can be problematic for fans.
Generally speaking, more than 18,000 seats is the best number for experience.
Too little and there’s no atmosphere, too much and it’s too crowded.
But Min Congda insisted on 25,000 seats, and investors from Shelley Sterling to others couldn't resist him.
Who made the decisions he made in the past three years correct?
On September 1, 2012, Min Congda participated in the groundbreaking ceremony of the new arena together with Clippers executives, owners, investors, and all players on the team.
It took more than half a year for Min Congda to finally complete his Afang Palace plan.
To be honest, Min Congda himself found it a bit incredible.
When he first proposed this idea, no one agreed or supported it.
But he bit the bullet, starting with the acquisition of the Great Western Forum and moving forward step by step.
Logically speaking, this matter should be more difficult the further it goes forward, after all, it is a billion-dollar project.
But I don’t know why, but it gets smoother the further it goes, especially after the Clippers won the championship.
There are always people who can help solve a large number of detailed, financial, and government issues.
Of course, the price is that some benefits need to be transferred, but Min Congda doesn't care at all.
In short, this process has been fueled by a large number of people. Simply put, more and more people are tied to this boat.
Banks, funds, individuals, fans, team owners, local officials, rap stars...
Min Congda sometimes feels that he is "crazy", like a big liar who runs a Ponzi scheme and has pulled a lot of people into the trap.
When the day comes when the scam is shattered, no matter whether you are an ordinary citizen or a high-ranking official or celebrity, you will all be in trouble.
It's just that Min Congda's "below average" intelligence has never figured out why so many people are willing to invest in this new arena and why they are optimistic about the Clippers.
This new arena will rise near the original Great Western Forum Arena and become the largest and most luxurious sports complex on the West Coast and even in the United States.
In addition to hosting basketball games, boxing, ice hockey, indoor football, volleyball, etc. can be held in this venue, as well as entertainment activities including large-scale concerts, large-scale talk shows, etc.
In order to run this stadium well, the "Clippers Stadium Asset Management Company" was specially established to conduct comprehensive and comprehensive management of this new arena.
Min Congda personally serves as the general manager of the company, responsible for the arena's various businesses, as well as its financial and liability status.
From then on, Min Congda will personally control the Clippers' number one player. For this company and the stadium, the team has incurred a debt of nearly 1.5 billion US dollars.
Of course, after winning the championship, the Clippers' market value jumped to $600 million, a surge of $140 million compared to last season.
As a result, Min Congda received a reward of US$14,000 during the season dividend settlement.
This reward amount really made Min Congda shed tears, 14,000 US dollars?
During the entire playoffs, Min Congda paid a total of US$48,000 in winning fines!
In terms of rewards for winning and losing basketball games, Min Congda lost everything.
Fortunately, with the fine rewards, the money I earned from investing in stocks, and almost no daily expenses, I was able to come up with the $48,000.
But after all, it was US$50,000, totaling more than RMB 300,000. How could I not feel heartbroken? You can buy a high-end car now.
Since the winning and losing side of basketball is no longer able to break even and has begun to lose money, Min Congda must of course focus all his energy on investment and management.
At the groundbreaking ceremony on September 1, Min Congda and Shelly Sterling, as well as a group of investors, as well as Curry, Harden and other team stars, picked up a shovel to lay the foundation for the new arena. Construction officially begins!
Shoveling a bowl of soil towards the foundation, Min Congda breathed a sigh of relief and thought to himself: "After three years of exploration and hard work, the Clippers' bankruptcy work is finally on the right track!"
Thinking of this, Min Congda really wanted to shed tears. How many detours have he made in three years?
He himself crossed the river by feeling the stones, step by step, and now several long-term plans finally began to show their power.
The new arena will become a huge liability for the Clippers. The Asian Basketball Foundation is a bleeding wound for the Clippers that will swallow up a lot of cash. The heavy luxury tax will take up a lot of the team's financial resources.
Nowadays, the Clippers' overall financial situation is in a tight balance. Once the team's goodwill is impaired, market value declines, and operating income declines, the capital chain may break at any time.
Min Congda imagined the problems that may arise for the Clippers in the new season:
The team became complacent after winning the championship. Young players fought with each other for the ball and status. The team's record declined, revenue and market value both dropped, and the debt problem was bound to explode.
"As soon as the debt problem breaks out, the interest cannot be repaid on time, there are cash outflow problems, assets are mortgaged, and players cannot pay their wages, then I will ask Adam Silva to let the league take custody again, declare bankruptcy and liquidate, and sell the team. Isn’t my mission completed? Hehe.”
Thinking of this, Min Congda was filled with hope, and the confidence that had been hit by the finals came back!
At the groundbreaking ceremony, Min Congda also saw Anthony Davis, the No. 1 pick who just joined the Clippers this year.
This guy's appearance is really strange. His limbs are extremely long, and his eyebrows are connected together. He seems to be from Arabia or Persia. His ancestors may have ancestry from those countries.
If we say that modern society has really given many people a stage to display their talents and abilities, a tall person like Anthony Davis with strangely long arms would probably have been used by someone in the circus a hundred years ago. The weirdos onlookers were little cotton pickers in the cotton fields two hundred years ago.
Min Congda doesn't know much about Anthony Davis's strength.
He watched very few NCAA games and was not involved in this draft as he did not want to interfere too much.
But it can be seen that the Clippers front office has high expectations for him. When arranging seats, he sat on the right side of Min Congda and Curry on the left.
The two No. 1 picks, one on the left and one on the back, are symbols of the Clippers' talent.
After the ceremony, Min Congda invited Anthony Davis, Curry, Harden and other players to have a meal at a Chinese restaurant in Chinatown.
Shelley Sterling said: "Smart, we have a dinner in Beverly Hills, won't you go?"
Min Congda waved his hand and said: "Shelly, you should go to the dinner party. You are suitable for such a high-end banquet. I will go to have Chinese food with the players, so I will not go to the party to join in the fun."
On behalf of the Clippers, Shelly Sterling hosted a banquet for investors at a luxurious villa in Beverly Hills.
This was a gathering of big boss capitalists. Min Congda had never been interested in it. He felt too restricted and was not used to eating.
On the contrary, he prefers to hang out with young players in nightclubs, bars, or Chinese restaurants.
After that, we can go to Santa Barbara to find a place to relax and unwind. It’s been a long time since we’ve had a serious adventure.
Xie Li didn't force it. She knew that Min Congda had such a personality and liked hanging out with the players.
It just so happens that Xie Li is a woman who likes to be in the spotlight. If Min Congda were here, he would definitely be the one who stole the show at the banquet.
Without him, Shelly, as a female boss who has won a championship, will definitely receive more attention.
After Anthony Davis was drafted by the Clippers, this was the first time he had close contact with Min Congda.
Davis has always heard about this "legendary" super general manager.
Appearing mysteriously three years ago, the No. 1 overall pick started a series of magical moves after taking down Curry. In just three seasons, the Clippers, a team that had been a bad team for ten thousand years, took the Clippers to the championship position. It can be called a miracle in the history of North American professional sports.
Throughout today's groundbreaking ceremony, Anthony Davis was a little nervous.
The white engineering hat was really uncomfortable on his head.
After finally waiting until the end of the ceremony, Min Congda invited the players to eat Chinese food together, and everyone happily agreed.
Marc Gasol hooked Davis's shoulder and said: "The team has rules. Newcomers have to treat themselves to the first meal after they arrive. It's up to you to pay the bill today!"
Davis was in a daze. Do the Clippers still have such rules?
Min Congda echoed: "That's right! Not only the first meal, but also after the meal, we will go exploring to Santa Barbara together! All the expenses will be paid by our champion!"
Davis scratched his head and said, "I...I haven't gotten my salary yet?"
Davis signed a four-year, rookie-maximum contract.
But wages will not be paid until the regular season starts.
Min Congda said: "Go to Rosser and ask him to advance your salary. Besides, don't you have a credit card? Let's go!"
Anthony Davis had no choice but to drive to Chinatown with his champion buddies anxiously.
It stands to reason that when the No. 1 draft pick comes to a new team, he is regarded as the future boss.
But Davis was one of the few No. 1 picks to make the championship team, becoming the least qualified one on the team.
No one in the team spoiled him from top to bottom. In terms of draft pick, Curry was also the top pick. In terms of strength, Gasol and Randolph both proved themselves in the finals.
From the perspective of the entire team, Anthony Davis is just an ordinary rookie and a talented reinforcement.
Regarding this kind of treatment, Davis still has some gaps in his heart.
At Kentucky he was the absolute core of the team.
He became a well-known insider in the United States at a very young age.
It is the future hope of the American insider in the hearts of the media and fans.
Since O'Neal was selected as the No. 1 pick in 1992, American insiders have withered away in the past 20 years, and fewer and fewer high center forwards have been produced as the No. 1 pick.
In theory, Duncan in 1997 was not from the United States, but was born in the Virgin Islands.
In 1998, Olowokandi was eliminated, in 2001, Kwame Brown was eliminated, and in 2007, Oden was eliminated.
The only one who really excelled was Howard in 2004, but Howard's poor and stiff offense and too small size were really incomparable with the super insiders of the past.
In recent years, those who have shown great prowess in the paint are some European white bears, the typical one is Marc Gasol.
Insiders in the United States give no hope.
Although Anthony Davis plays power forward, he is 7 feet tall (213), the height of a proper center, but his body is relatively slender.
His height and wingspan are more than enough to play the five position.
Therefore, Anthony Davis has placed many American fans' expectations on local insiders.
It is conceivable how intoxicating the imagination aroused when such a star of hope came to the Los Angeles Clippers, a championship team.
So what Min Congda doesn't know is that after Anthony Davis became a member of the Clippers, the number of potential fans of the Clippers in the United States is growing exponentially.
In the new season, the Clippers will undoubtedly become one of the most eye-catching teams in the United States.
Most fans who do not have a fixed support for a team, especially young fans, are most looking forward to the birth of a Galaxy Battleship.
Today, the battleships on the south coast have taken shape, and the Clippers' super battleships are no less impressive.
It's a pity that in Min Chongda's eyes, Anthony Davis is just a simple and fragile guy with one eyebrow and a thin body.
In rookie training camp and the Las Vegas Summer League, Anthony Davis performed well, but he has begun to suffer from minor injuries.
Min Congda hopes that like Griffin, he can be reimbursed as soon as possible. When the time comes, Min Congda will pay him every penny of his salary.
Anthony Davis has a somewhat different mentality from Curry. He is not trying to prove himself.
He was just thinking, how could his life in Los Angeles be more comfortable?
(End of chapter)
