Chinese sports financier Huang Jianhua will lead a team of investors spending millions of dollars to develop a youth baseball league in China.

Huang, who is keen to buy a share of National Basketball Association franchise the Cleveland Cavaliers, is heading QSL Sports Limited, which has signed a ten-year deal with the Chinese Baseball Association.

The investment will include the funding of tournaments, the sale of sponsorship, broadcasting and merchandising rights, and talent management.

In the past year, four Chinese-born players have been signed by MLB teams - two each by the New York Yankees and the Seattle Mariners.