Hello Industry Friends, here is the very latest news and insights from Asia.
📰 Headlines: The NBA returns to Greater China, Formula 1 confirms Shanghai race extension, Kai Tak Sports Park adds HSBC as a sponsor, Papua New Guinea team to join NRL from 2028, AFC and Sport 24 in extension through 2028-29, and China’s esports industry returns to growth.
🗞️ Key Industry News
NBA to Return to China with Multiyear Deal in Macau
The NBA has signed a multiyear deal to play pre-season games in Macau from 2025, marking the league's return to the Chinese market. NBA Deputy Commissioner Mark Tatum said the NBA would host two pre-season games annually for the next five years at Sands China's Venetian arena in Macau. The first games, scheduled for October of next year, will pit the Brooklyn Nets against the Phoenix Suns. Read more on Reuters (English) 💡 Our Take: The robust reaffirmation of its commitment to Greater China underscores the region's significance as a vital international market for the league and its teams. It comes as no surprise that the Brooklyn Nets are among the first teams to return, given their profound connections to China through owner Joe Tsai. Building upon the resounding success of UFC Fight Night Macau, the Special Administrative Region has secured another prestigious endeavor in the NBA, ensuring several years of engagement. As such, 2025 is poised to be a landmark year for sports in Macau, marking it as a pinnacle in the city’s sporting history.
Formula 1 to Race in Shanghai Until 2030 with Five-year Extension
F1 has announced a five-year extension with the Chinese Grand Prix that will see the Shanghai International Circuit remain on the calendar through the 2030 season. The extension follows Formula 1’s successful return to China in 2024 after a five-year absence, where 200k fans attended the race. Read more on F1 (English)
💡 Our Take: On the same day that the NBA heralded its return to Greater China, Formula 1 also affirmed its commitment to Shanghai with an extension through 2030 - marking a pivotal moment for the city. The recent surge in Formula 1's popularity in China can largely be attributed to Shanghai native Zhou Guanyu, who recently achieved an impressive eighth-place finish in Doha. As the future of the Shanghai race is secured, considerable anticipation surrounds whether Zhou will retain his seat for the 2025 season, capturing the attention of motorsport enthusiasts across the nation
Kai Tak Sports Park Signs Up HSBC as Sponsor
The financial services group has been announced as a premier founding partner of Kai Tak Sports Park, a new sports complex set to open in Hong Kong in early 2025. HSBC will promote community sports in collaboration with Kai Tak Sports Park, which will be the largest integrated sports and entertainment complex in Hong Kong. Read more on SportBusiness (English)
Papua New Guinea Team to Join NRL from 2028 in $600m Deal
PNG was officially granted an NRL license in a historic moment for Rugby League in Australia. The deal was announced during a visit to PNG by Prime Minister Anthony Albanese. A Port Moresby-based team will join the competition. This deal further strengthens the ties between the two countries, as Australia is PNG's key security partner in the region. Read more on Fox Sports (English)
💡Our Take: PNG will become the second nation outside of Australia to join the historic NRL competition, following the New Zealand Warriors over 30 years ago. The Warriors have been hugely successful in recent years and have built a loyal fanbase in a country famous for its Rugby Union. Rugby League is the national sport of PNG, a country 2.5 times the size of New Zealand in population, and certainly offers a unique growth opportunity for the league. However, the deal is not without controversy. Anthony Albanese confirmed that PNG-based Australian players will be exempt from tax and can pocket their entire salaries, which will have major impacts on the league's strict salary cap. The deal is funded by a huge taxpayer investment, which many are calling a poor use of public funds during a cost-of-living crisis.
AFC and Sport 24 in Extension Through 2028-29
The Asian Football Confederation (AFC) regional governing body has unveiled a lengthy renewal of its in-flight and at-sea broadcast partnership with Sport 24. The airline and cruise-line broadcast service will continue to cover AFC competitions through the 2028-29 season. Read more on Sportcal (English)
Corpay Cross-Border Agrees on Global UFC Deal
Corpay’s Cross-Border business has agreed to a deal to become the ‘official and exclusive global foreign exchange partner’ of the Ultimate Fighting Championship (UFC). As part of the deal, Corpay will serve as the presenting partner of select UFC Fight Nights in Asia, Australia, Europe, and the Middle East. Read more on SportBusiness (English)
Report Reveals China's Ski Industry is Booming With 700+ Ski Resorts
A report released in October of 2024 revealed that skiing is not only alive and well, but actually saw sizable growth during the 2023/2024 season. In the 2023/24 season, China saw 30 new resorts built with 15 being indoor and 15 outdoor. Read more on Powder (English)
Volvo Cars Extends Commitment to China Open for Next Five Years
Volvo Cars has reiterated its commitment to golf in China with the announcement it has extended its contract with the China Golf Association to title sponsor, operate and promote the China Open for the next five years. The tournaments will be co-sanctioned by the DP World Tour and China Tour. Read more on European Tour (English)
Sydney FC Strikes Nexen Tyre Deal
The Korean company has agreed to a two-year deal with an option for a third year and has secured prominent LED branding and a TV commercial that will be shown at the Australian A-League club’s Allianz Stadium. Read more on SportBusiness (English)
Shanghai Virtual Sports Open Grand Final launches
The MetaSVS Shanghai Virtual Sports Open Grand Final and MetaSVS Electronic Music Party took center stage in Shanghai. Against the backdrop of modern electronic music, over 130 participants competed for the annual championships over the weekend in various events including virtual cycling, rowing, and racing. Read more on China Daily (English)
Borussia Dortmund & Transformers Cross-brand Cooperation Debuts in Asia
The club has launched a cross-brand cooperation with Transformers to release the club's new Transformers co-branded series of products. As part of the Transformers 40th-anniversary celebrations, the two IP brands joined forces to bring the debut of merchandise in Asia at the Transformers 2024 Annual Conference held in Shanghai. Read more on Ecosports (Chinese)
🎮 Esports
China’s Esports Industry Returns to Growth in 2024
According to figures released by an industry association, China’s esports industry returned to growth in 2024, as major video-gaming companies led by Tencent Holdings and NetEase bet big on the sector’s international expansion. Revenue generated by the esports industry grew 4.6 percent from a year earlier to $3.8bn, on the back of several factors including government support and overseas expansion. Read more on SCMP (English)
Shanghai Hosts 2024 Counter-Strike Major on its Asia Debut
The city is hosting the world's top-level Counter-Strike competitions, organized by Shenzhen-listed Perfect World. The event, from November 30 to December 15, will see 24 elite teams from Europe, the Americas and the Asia-Pacific region in Shanghai to vie for the title of the world's best CS team and a share of the US$1.25m prize pool. Read more on Shine (English)
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