ExclusiveBasketball in Hong Kong set for ‘serious’ funding after city legalises betting
Jockey Club poised to announce significant investment to develop the sport’s grass roots, sources say
A major restructuring of youth basketball in Hong Kong is expected to be announced this weekend, with the Jockey Club preparing to unveil a significant investment in the sport, sources have told the Post.
According to a previous estimate by the club, authorised basketball betting could generate HK$1.5 billion in tax revenue annually, though a source told the Post it may take three to four years to reach that level.
The plans, which one source called a “serious commitment to the development of basketball”, would be aimed at children and young people across Hong Kong, with a pathway to the elite levels of the sport included in what is expected to be a community-focused project.
Led and funded by the club’s Charities Trust, the Post has been told that three non-government organisations – the Hong Kong Federation of Youth Groups (HKFYG), the Boys’ and Girls’ Clubs Association of Hong Kong, and InspiringHK Sports Foundation – have been approached to be part of the programme.