Asia Sports Business Weekly | 8th November

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

📰 Headlines: CCTV-5 lands WTA Finals deal, Ligue 1 nets strong increase in South Korea, Peak 6 sells back Wolves stake, squash gains momentum in China, tennis fever kicks on, esports Grand Finals hit viewership milestones, India eyes 2036 Olympics bid. 

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🗞️ Key Industry News

WTA Finals Riyadh Boosts China Audience with CMG Deal

Live tennis from the WTA Finals Riyadh is being shown by CCTV-5, following a new deal announced by WTA Ventures and China Media Group (CMG). The deal means audiences across the Chinese mainland and Macau SAR will have the chance to watch Zheng Qinwen as she competes in the year-end championship, for the first time. Read more on WTA (English)

💡 Our Take: When CCTV-5 starts making tournament-only deals for international events, you know they’re confident of strong audience numbers, and confident they should be. The new poster girl of Chinese sport Zheng Qinwen can do no wrong at the moment, having had a year to remember both on and off the court, winning tournament titles and landing bumper brand deals. Whether Zheng wins in Riyadh over the weekend or not, she’s firmly put China back on the top tennis table, with 2025 expected to bring even greater success.

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Ligue 1 Nets Strong Increase in South Korea

France’s top league has gained a significant increase in the value of its media rights in South Korea, through a deal with e-commerce company Coupang, known as the Amazon of South Korea. Coupang is reportedly paying in the region of $1m-$1.5m per year for exclusive rights to Ligue 1 in a deal that runs for at least three seasons, 2024-25 to 2026-27. Read more on SportBusiness (English)

💡 Our Take: PSG’s South Korean international Lee Kang-in will have played an important role in helping increase the media rights value for Ligue 1 in the region. A regular for PSG across all competitions, the player has proven he’s not a commercial buy, but a top player capable of competing at the top level of the sport.

Peak6 ‘Sells Back’ Wolves Stake to Fosun

The Chinese multinational bought back the shares held by the Chicago-based fintech firm for about $50m, according to a report by Bloomberg. The move comes three years after Peak6 acquired the stake in Wolves, whose first team is currently bottom of the Premier League. Read more on SportBusiness (English)

Squash China Open an Education for Domestic Players

The 2024 Squash China Open at SPD Bank Oriental Sports Center concluded with top seed Mohamed Elshorbagy from England winning the men's title and Malaysia's sixth-seeded Rachel Arnold the women's. The five-day event brought together 48 players from 13 countries and regions. Read more on Shine (English)

💡 Our Take: The fact that squash is set to become an Olympic sport at LA28 means China’s government will want to invest in the sport, ensuring the country is represented well in four years. Although only hosting 600 fans per day, the Shanghai event was sold out for each session, with the younger demographic making up the majority of fans presenting a bright future for the sport in China. 

Li Na Says Players ‘Loved’ Hong Kong Open

The Chinese tennis legend praised the improvements made in the organisation of the Prudential Hong Kong Tennis Open and said that players “loved this event”. However, she reiterated calls for the decades-old Victoria Park to undergo a makeover. Read more on SCMP (English)

China Swept By "Tennis Fever"

The 2024 Women's Tennis Association (WTA) Guangzhou Open tennis tournament concluded on Oct. 27 in Guangzhou, the capital of south China's Guangdong province. This event, which enjoys a history of 20 years, once again swept China with a "tennis fever." "Breakthrough" is what defines China's tennis in 2024. This year, Chinese tennis players have constantly made breakthroughs in their personal performance and world rankings. Read more on People’s Daily (English)

Chinese Basketball Clubs Hit Back at ‘Obsessive Fans’ After Player Abused Online

Two Chinese Basketball Association (CBA) clubs say they and a player have been “maliciously abused and attacked” online as the country continues to grapple with “obsessive fan culture”. Read more on SCMP (English)

Nation Braces for Big Boom in Cold-Weather Sports

With the 9th Asian Winter Games set to open in February next year in Harbin, the approaching winter season is expected to witness new highs in the number of ice and snow sports activities as well as the revenue of related businesses and the number of tourists at skiing destinations, according to officials attending a recent news briefing on winter sports development. Read more on China Daily (English)

WBSC Sets Out Japanese Broadcast Plan for Premier12

The World Baseball Softball Confederation (WBSC) has announced that Tokyo Broadcasting System (TBS), TV Asahi, Prime Video, and J Sports will broadcast the 2024 Premier12 in Japan. TBS and TV Asahi have acquired the TV rights to show Japan games at this year’s national team tournament, while Prime Video and J Sports have secured the rights to stream the event. Read more on SportBusiness (English)

Global Sportswear Brands Race to Ride on Korea’s Running Craze

Global sportswear makers have stepped up competition in South Korea to take advantage of the country’s growing running craze, with major brands such as Nike Inc. and Adidas AG battling against their smaller rivals for control of the market. Read more on Korea Economic Daily (English)

💡 Our Take: Only a decade ago, running outside in Seoul would be met with stares and confusion as you raced by people on the sidewalk, yet nowadays, running and “running clubs” have become a lot more mainstream. As seen with the luxury market, Koreans like to spend as there is so much pressure in society to project outward success. Companies that understand and take advantage of this part of Korean culture will reap great rewards as seen by those providing running gear this year.

Honda to Provide Electric Vehicles for Tokyo 2025

World Athletics has added a further Japanese brand to its sponsorship portfolio, agreeing a deal with Honda for the provision of electric vehicles at the upcoming World Athletics Championships in Tokyo in 2025. The automotive company becomes the sixth company from the country to join as an ‘official global partner’ of the global governing body for athletics. Read more on SportBusiness (English)

BDMNTN-XL Successfully Held in Jakarta

The fun badminton event, titled Badminton-XL, was successfully held at Istora Senayan, Jakarta, on 31 Oct-3 Nov. Although titled an exhibition, this event attracted great attention because of its unique participants and format. This event received full sponsorship from OCI Holding, Hyundai, blibli, and SPOTV where the winner received a prize of $1m. Read more at IndonesiaTalk (English)

💡 Our Take: As one of the biggest badminton markets, this event welcomes the hegemony of Indonesian society towards badminton, which has increased rapidly in the past year. People, especially in big cities, now prefer to play badminton instead of futsal, mini-soccer, and tennis. With big stars and legends willing to support this event and with extraordinary enthusiasm from the audience, talks about BDMNTN-XL 2025 on a bigger scale have begun.

India ‘Makes First Formal Move’ for 2036 Olympics

The Indian Olympic Association (IOA) has delivered a formal letter of intent registering the country’s interest in hosting the 2036 Olympic and Paralympic Games. The letter was reportedly sent to the International Olympic Committee’s Future Host Commission on October 1. Read more on SportBusiness (English)

New CBA Head Calls for Inner Drive in Chinese Men’s Basketball Team

All members of the Chinese men's basketball team must possess a sense of urgency and mission. They need to ignite their internal drive and embrace accountability, said Guo Zhenming, the newly appointed chief of the Chinese Basketball Association (CBA) on Tuesday after Yao Ming stepped down on October 31. Read more on Global Times (English)

Nike Makes a Strong Run at the China International Import Expo

For the fifth year running, Nike has taken center stage at the China International Import Expo (CIIE), spotlighting its new strides in running. This year, Nike unveiled an upgraded footwear lineup, a host of new running products and plans for improved local partnerships. Visitors can explore Nike's long-standing commitment to running with an exhibit featuring state-of-the-art technology and an in-depth look at Nike's impact on both elite and recreational runners. Read more on SHINE (English)

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🤔 Opinion

China’s 1st F1 Driver Zhou Guanyu On His Career So Far

Zhou reflects on his Shanghai Grand Prix moment, fashion and always persevering. Read more on Jing Daily (English)

Is the Missing Piece a Football Home Team for Kai Tak Sports Park?

Rather than worry about how to get people home after an event, Hong Kong must figure out how to attract loyal crowds to the new stadium. Read more on SCMP (English)

Can the IPL Format Go Global? Assessing Cricket’s Potential for Global Growth

Cricket is one of the world’s most widely attended, broadcast, streamed, and bet on sports, making it a multi-million-pound business. However, it is often overlooked in sports business discourse in comparison to the giant of football, and in markets like the US where it is still a fairly niche scene. Read more on Insider Sport (English)

Sportswear Giants Eye China’s Design Talent

Johnny Huang designs a Fila collection, Roaringwild creates a drippy Puma Mostro sneaker, and Mowalola x Miss Sixty hits ENG Concept Store. Read more on Jing Daily (English)

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🎮 Esports

Worlds 2024 Grand Finals Hits Major Viewership Milestone

The most popular esports match in history occurred last weekend between Chinese esports organization Bilibili Gaming (BLG) and South Korean organization T1 during the Worlds 2024 Grand Finals in London at the O2 Arena. The big moment hit around 6.94m peak viewers and also made history by being only the second esports tournament to pass the 6m peak viewership mark. Read more on Esports Advocate (English)

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