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Minnesota Lynx

Timberwolves & Lynx Announce New Limited Partners

June 29, 2016 - Women's National Basketball Association (WNBA)
Minnesota Lynx News Release


Minneapolis/St. Paul - The Minnesota Timberwolves and Lynx today announced new minority team owners and limited partners in Lizhang (John) Jiang, founder and chairman of Shanghai Double-Edged Sports Company in China, and Meyer Orbach, chairman of the Orbach Group in New York City. Mr. Jiang will become the first Chinese citizen to have an ownership stake in an NBA team.

"I am extremely excited to welcome both John and Meyer to the Timberwolves and Lynx family," said Timberwolves and Lynx majority owner Glen Taylor. "These gentlemen are not only elite businessmen, but also are extremely high quality people who our franchises are proud to be associated with moving forward. In addition, with John we have the first minority owner from China. John has shared his passion to grow the popularity of the Timberwolves and Lynx in China, which speaks to the global interest in not only our brand but the game of basketball as a whole."

"Meyer is a very positive person with a strong business sense," Taylor continued. "Meyer has had the opportunity to attend the Draft Lottery and the NBA Draft most recently as a new minority owner, and it's infectious to see his enthusiasm and passion for our team in the short time since he has become part of our family. We are looking forward to our partnership with Meyer and appreciate and welcome his love for our teams."

Mr. Jiang, a 35-year-old entrepreneur, has been focusing on sports marketing over the past 10 years and has successfully managed the marketing of a number of top Chinese brands at some of the world's top sporting events, including for the Olympic Games, top European soccer leagues and the NBA. Recently, Mr. Jiang acquired a 98.13% interest in Granada CF, a Spanish soccer club in LIGA BBVA, and became the youngest person to be chairman and controlling owner of a team in that league.

"As a passionate sports fan, I'm excited to become a part of the Timberwolves and Lynx organization and honored to be the first Chinese citizen to have ownership in the NBA," said Jiang. "My goal is to bring China and this great league closer, and build the Timberwolves and Lynx fan base in our country."

In Meyer's time as chairman of the Orbach Group, he's expanded the company's holdings and become one of the largest landlords on Manhattan's Upper West Side. In 2009, he led the company to become one of the nation's leaders in providing affordable housing. As a certified owner and operator with the U.S. Department of Housing and Urban Development's Housing Assistance Payment program, Orbach provides approximately 2,000 families with affordable housing through its ownership of HUD buildings across four states. The Orbach Group is a second generation real estate organization that owns and manages a diverse portfolio of quality assets valued at over $2 billion. The company's portfolio consists of multifamily and retail units throughout New York, New Jersey, Pennsylvania and California.

"With back-to-back rookies of the year, the addition of Tom Thibodeau and the continued leadership of Glen Taylor, the Timberwolves are poised to take a giant step forward and return to the NBA playoffs this season, and the three-time WNBA Champion Minnesota Lynx are proven winners who look ready to go all the way again," said Orbach. "I'm excited to join such a dynamic organization, in an amazing city, at an especially promising time for these great franchises. I look forward to spending more time in Minnesota and to a successful partnership that I know will result in an NBA Championship and future WNBA Championships."

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