I reported last week about the troubles faced by the Chinese Basketball Association and particularly teams such as the Shanghai Sharks who were close to bankrupcy. Li Qiuping, a member of Team Yao, has revealed Yao Ming’s interest in helping out his old team with an investment of around 20 million RMB (2.9million USD).

The current owners of the Shanghai Sharks, who finished this season 2nd from last, range from a media group to an airport to a sports institute. The team started having major problems when its lead sponsor, Xiyang Group, ended it’s investment prematurely after claiming the team to be “hopeless”.

The deal is not finalized and GM of part-owners Shanghai Media Group has even denied the story, but the team desperately needs some cash as it tries to properly compensate players. It is also suggested that other owners might also be involved.

Yao Ming played 9 years for the Sharks and also lead them to their only championship in 2002 since its formation  in 1996. With his career in jeopardy, and his never ending loyalty and importance to China, a part time ownership for his hometown team might not be such a bad idea.