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The National Basketball Association and AEG, a unit of Anschutz Co., are planning at least a dozen arenas in China to take advantage of an increasing middle class with disposable income, the New York Times said.

The arenas may be the start of an NBA-branded league in China, the newspaper said. The 19,000-seat facilities may be located in Shanghai, Guangzhou and Shenzhen.

The league and AEG, which runs or owns more than 90 arenas including the Staples Center in Los Angeles, will make modest cash investments and obtain substantial ownership stakes based on their expertise, the Times said. Local and provincial governments will provide the majority of the financing.

``China is an enormous market with enormous potential, not only for basketball but for entertainment venues,'' said NBA Commissioner David Stern, who will disclose the plan with AEG Chief Executive Officer Timothy Leiweke today before the New Jersey Nets-Miami Heat exhibition game at O2 arena in London, according to the Times.

(Source: Bloomberg)