The former 4th overall selection in the 1996 NBA Draft, Stephon Marbury, has re-signed with the Shanxi Zhongyu Brave Dragons of the Chinese Basketball Association for the next three seasons.
Marbury, who was selected to and won MVP honors at the CBA All-Star game last season, appeared in 15 games for the Brave Dragons last season and averaged 22.9 ppg, 9.3 apg and 5.9 rpg.
There is a number of interesting business aspects related to Marbury's newly signed contract.
In Marbury’s three-year contract with the team, the owners of the Shanxi Zhongyu team have agreed to supply a company not only to produce, but also to sell, Marbury's line of athletic shoes and equipment.
As reported by the Associated Press:
“As part of the deal, the ownership of Shanxi Zhongyu will create a company to produce and sell apparel and shoes from the point guard's "Starbury" brand. The company will also open three Starbury shops, though details have not been decided, the team said.”
Another interesting aspect of the deal is that in the third year of the contract, Marbury, “may be asked to become an assistant coach in the third, Shanxi said in an announcement on its website.”
On paper, Marbury, who has long been a proponent for affordable basketball footwear, appears to have done very well in this most recent deal as it will give him a certain degree of financial security, a possible bridge into coaching and an incredible opportunity to market his Starbury brand of shoe to over 1.3 billion people in China.
© 2010 Neal J. Leitereg -- All Rights Reserved
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