Asia Sports Business Weekly | 6th September

Hello Industry Friends, here is the very latest news and insights from Asia.

📰 Headlines: WTT signs presenting partner, the AFC and MNC announce renewal, Steph Curry to open China retail store, ISU signs China deal, Olympians help promote sports in the GBA, LIV Golf HK to return, and Black Myth: Wukong continues to break records. 

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🗞️ Key Industry News

WTT Signs Presenting Partner for China Smash Event

Zhonghui Life Insurance will be the presenting partner for this year’s edition of the China Smash table tennis event. The company will also serve as the official life insurance service provider of the event as part of an agreement with World Table Tennis (WTT), the commercial arm of the International Table Tennis Federation (ITTF). Read more on SportBusiness (English)

💡 Our Take: The first China Smash as part of a new five-year deal in Beijing comes with big expectations off the back of a successful Paris 2024 for China’s paddlers. This event is also part of what is set to be a busy September-December for Greater China, hosting live sporting events after a relatively quiet year to date. The upcoming tennis swing is culminating in the Rolex Shanghai ATP Masters 1000 event, there’s UFC Fight Night in Macau in November, the BUICK LPGA Shanghai golf tournament, and plenty more. Hopefully, this sets up the country for a much busier 2025 for live sporting and entertainment events.

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AFC & MNC Announce Renewal of Media Rights Partnership

The Asian Football Confederation (AFC) has announced the renewal of its media rights partnership with PT Media Nusantara Citra Tbk (MNC) for the 2025-2028 cycle in the territories of Indonesia. The agreement encompasses all major AFC National Team competitions within the cycle, including the AFC Asian Qualifiers - Road to 26, the AFC Women’s Asian Cup Australia 2026, the AFC Asian Cup Saudi Arabia 2027, the AFC U23 Asian Cup 2026 and 2028 and others. Read more at Sportcal (English)

💡 Our Take: This extended partnership ensures that the public can watch the National Team free-to-air, and is a big deal for MNC because National Team matches (in all ages, junior/senior) are always the highest rating shows yearly on free-to-air TV. Indonesia's bilateral relations are supported as well, along with the fact that MNC broadcasts in neighboring countries. In addition, the expansion to also broadcast AFC club competitions will increase the value of the Asian football market in Indonesia, which continues to grow, along with many National Team players who now have a carrier in the big Asian leagues.

Steph Curry to Open Curry Brand Retail Store in China

The NBA star is set to be in Asia soon promoting the launch of his Curry 12 shoe with Under Armour, and while over there, the Warriors star will open a Curry Brand store in Chengdu. Curry hinted at the opening during a recent event for the shoe held at the National Basketball Players Association. Read more on Front Office Sports (English)

ISU Signs China Deal to Boost Speed Skating

The International Skating Union (ISU) has announced a sponsorship with the Chinese National Sports Group (CNSG) for short-track speed skating. The deal will see both parties collaborate on growing the visibility of short-track speed skating, which is extremely popular in China and garnered further interest following the 2022 Olympic Winter Games in Beijing. Read more on SportBusiness (English)

Olympians' Visits Help Promote Sports in the Greater Bay Area

Representatives from various sectors said visits from Chinese mainland Olympic champions to Hong Kong and Macau highlighted the central government's support for the special administrative regions and will further promote the integrated development of sports in the Guangdong-Hong Kong-Macau Greater Bay Area. Read more on China Daily (English)

NBA Stars, Teams Court Fans in China

Basketball fever gripped Shanghai last weekend, as the city played host to top NBA teams and stars, as well as the XBA Street Basketball Tournament's All-Star Weekend. After the Paris Olympics, a group of the NBA's top players, including Jayson Tatum and Luka Doncic, made the trip to China, whilst the Phoenix Suns held a fan festival at Xujiahui Sports Park in Shanghai. Read more on China Daily (English)

💡 Our Take: Chinese basketball fans will continue to value NBA teams and players coming and being present in the market.  Athletes who are looking to leverage this excitement have also expanded their presence across China digitally, with Jayson Tatum launching on Kuaishou & RED, Luka launching his official Kuaishou account, and Paolo Banchero launching on Douyin and Weibo during their China tours. Creating exclusive content for their brands and fans in China - digital currency for individual athletes will be very valuable as they progress their playing careers and ultimately lead to more commercial opportunities down the line in China.

Shanghai Gears Up for FISE World Series at West Bund

The Shanghai leg of the FISE World Series, a global extreme sports tour, will take place in Xuhui district's West Bund from Oct 16 to 20, transforming the area into a sports carnival spanning over 70,000 square meters. Six international top-tier events will kick off at venues such as the Tank Art Center and the West Bund Dome Art Center. Read more on China Daily (English)

LIV Golf Hong Kong to Return in 2025

The LIV Golf League will return to Hong Kong early next year, the third stop on the circuit’s 2025 season. LIV said it would begin its year in Saudi Arabia, with a return to Adelaide and an event in Singapore, either side of the return to Fanling, all taking place within the space of six weeks. Read more on SCMP (English)

NBA G League Star Muoka Eyes Hong Kong Passport Ahead of FIBA Asia Cup Qualifiers

Hong Kong is expecting a double upgrade ahead of their next FIBA Asia Cup qualifiers window in November after NBA G League player David Muoka revealed he was going through the process of acquiring a city passport. Read more on SCMP (English)

Naver Launches Crypto Wallet in Partnership With Chiliz

The South Korean internet giant is launching its first digital asset wallet, Naver Pay Wallet, for the Korean market. It is partnering with Chiliz, a blockchain provider for sports and entertainment, as the inaugural blockchain for the wallet. Read more on Tech Crunch (English)

💡Our Take: South Korea has had a dubious reputation when it comes to the crypto industry. However, this partnership between one of South Korea’s top technology companies and a blockchain provider in sports and entertainment could be a step forward in making blockchain technology more mainstream to the average person. It’ll be exciting to see how this could affect the sports economy in terms of transactions, merchandise, sports NFTs, etc. in South Korea in the coming years.

Vietnam Leads Asia in Pickleball Development

Vietnam has taken the lead in Asia in terms of pickleball development, heard a meeting between Vietnam’s Sports Administration Director Dang Ha Viet and the Asian Pickleball Federation (APF)'s President Hogan Lai in Hanoi on September 4 to discuss the development of the sport in the country. Read more on Vietnam Plus (English)

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🎮 Esports

China Media Group, VSPO, and Esports World Cup Foundation Sign New Deal

The Esports World Cup Foundation, China Media Group’s National Institute for Esports Development (NIED), and Chinese tournament operator VSPO announced that they signed a Memorandum of Understanding at the New Global Sport Conference. Read more on Esports Advocate (English)

China’s First Global Gaming Hit Sells Millions in a Week - An Early Investor Shares What’s Next

China’s first attempt at a top-tier video game has smashed world records, bolstering the industry’s global ambitions just a few years after Beijing’s gaming crackdown. Black Myth: Wukong, an action game set in mythological China, sold more than 10m units three days after its launch on Aug. 20. Ten days later, the title still ranked second by revenue in the U.S., and No. 1 globally, according to the Steam video game platform where it sells for around $60 or more. Read more on CNBC (English)

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