There's also the question of why America lets the NBA, which is not simply a sports league but a cultural institution that has a ton of influence and soft power globally be controlled by Chinese money.
It's the other way around, the NBA is a vehicle for rap culture into China, the most degenerate and destructive type of musical social engineering ever deviced. It's mostly a one-way street as far as soft power projection. A lot of young Chinese people got hooked with it due to Yao Ming playing back in the 00s when they had a bit more of an inferiority complex wrt athletic prowess and were excited to see one of theirs go against the big boys.
For the NBA owners and PTBs, having low-grade humans like satanist Lebron James being role models for American or Chinese youth is a great thing.