Chinese Internet giant Tencent Holdings Ltd is to contend with Sina Corp over exclusive live online broadcasting rights for the National Basketball Association, cnr.cn reported on Thursday.

Tencent may pay the NBA more than $100 million annually to become the only network able to screen every game of the 30 teams involved, according to a source.

The deal will also allow Tencent to authorize permission for other network platforms to broadcast NBA matches in China.

Tencent has declined to comment, according to the report.

Letv, one of China's largest Internet television companies, will join Tencent and Sina in the fight for the exclusive NBA rights.