Credit: Financial Times
Alibaba chair Joe Tsai, one of the most prominent figures in China’s tech and sports investment landscape, is turning his attention to the fast-growing basketball market in Asia. Tsai — who also owns the NBA’s Brooklyn Nets — has become a backer of the newly launched Asian University Basketball League (AUBL), a competition modeled on the NCAA’s famed “March Madness” knockout tournament in the United States.
A New Platform for College Basketball in Asia
The AUBL officially tipped off this week in Hangzhou, Alibaba’s home city, with 12 university teams competing from across the region. Participants include leading institutions such as Peking University and the University of Hong Kong, alongside teams from Korea, Japan, Taiwan, Mongolia, and Hong Kong.
The project is being spearheaded by Realeague, whose CEO Jintian Li described college basketball as a “big untapped opportunity” in Asia. He noted that basketball has been a fixture of school and university culture in the region for decades, yet it has lacked a formalized, high-profile intercollegiate competition.
Star Power and Strategic Investment
The league enjoys the support of former NBA star Yao Ming, while Tsai’s Blue Pool Capital, Alibaba-linked funds, and Gobi Partners are among its financial backers. Sponsors include Under Armour, which recently staged a “Curry Camp” with Golden State Warriors guard Steph Curry in Chongqing, and Chinese EV maker Zeekr. Curry himself appeared in a recorded message at the launch, calling the moment “history-defining.”
From Hangzhou to Asia-Wide Growth
The inaugural event in a 3,000-seat Hangzhou arena sought to replicate the entertainment-driven culture of American college sport, complete with cheerleaders, crowd giveaways, and last-second long-range shots. After this opening tournament, the AUBL intends to adopt a league structure with play-offs, mirroring the excitement of March Madness. Expansion to additional universities across Asia is also on the agenda.
Currently streamed on Chinese platforms such as Youku and Tencent, the league is working in partnership with the Asian University Sports Federation. Its goal is to carve out a sustainable niche in Asia’s competitive sports market, where basketball already commands significant participation and viewership.
Basketball’s Strong Roots in China
Basketball’s popularity in China has grown dramatically since Yao Ming’s rise in the NBA during the early 2000s. Beyond the professional Chinese Basketball Association (CBA), grassroots and amateur competitions have flourished — some as unconventional as Zhejiang’s intercity league, where winners are awarded bags of live fish.
Players, too, see university-level basketball as central to the game’s growth. Shao Pengyu, a 24-year-old representing Zhejiang University, remarked that Chinese basketball is “more likely to develop from campus basketball.”
A Strategic Sports Play from Joe Tsai
For Tsai, this is the latest move in a diversified sports investment portfolio that already includes stakes in the Brooklyn Nets, Los Angeles FC (MLS), and the Miami Dolphins (NFL). His backing of the AUBL aligns with his broader strategy: harnessing sport as a cultural and commercial driver in markets with massive untapped potential.
The timing is notable. The NBA is set to return to Greater China for the first time in five years with exhibition games in Macau this October, further highlighting basketball’s deep commercial and cultural resonance in the region.
Outlook
If successful, the AUBL could become Asia’s answer to NCAA basketball — a platform blending competitive student sport with commercial entertainment. For investors and sponsors, it represents a chance to reach young, engaged audiences across multiple Asian markets. For universities and athletes, it offers a stage that could elevate campus basketball to new prominence.
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