Here are the top China sports business news stories you need to know from this week:
Tencent Signs Strategic Partnership with MLB
Major League Baseball (MLB) and Chinese tech giant Tencent have announced a wide-ranging partnership that includes live-streaming 125 games and exclusive carriage of Jewel Events such as the All-Star Game and World Series. Read more on Tencent (Chinese) and CNN (English)
Manchester United Partners with Ping An
Ping An Bank has become the Official Retail Banking Partner of Manchester United in Mainland China. As part of the agreement, Ping An Bank will offer Manchester United fans in China a range of branded financial services products, starting with the Manchester United credit card. Read more on Manchester United Official Website (English)
Mailman Take: The deal between Manchester United and Ping An Bank is not the first cooperation between sports and finance. Both local and overseas sports IPs have previously worked with Chinese banks and launched co-branded cards. The cooperation between Manchester United and Ping An goes deeper to provide the opportunity for cardholders to meet club legends and attend football matches.
DDMC Obtains LaLiga Media Rights
Chinese sports and entertainment firm Wuhan DDMC Culture Co has agreed to buy the broadcasting rights of LaLiga, Spain’s top-tier football league, in China for the period 2017-2022, adding to its rights portfolio already including the English Premier League in the country. Read more on DDMC Official Website (Chinese and English)
Suning Sports Raises $300 Million in Round A Financing
As the sports arm of Chinese e-commerce company Suning, Suning Sports has raised $300 million in its series A round financing. This fund will be applied to Suning Sports’ media rights purchasing, marketing promotion, programme production and retail expansion. Read more on STCN (Chinese)
WeChat Brings Li Haotong On Board
Chinese golfer Li Haotong and WeChat jointly announced their new partnership on April 2, making WeChat Li’s main sponsor. Li is also the first ever golfer signed by WeChat.
361° Sponsors World Men’s Curling Championship
Chinese major sports apparel brand 361° is confirmed to be the official title sponsor of 2018 World Men’s Curling Championship, which is being held in Las Vegas from 31st March to 8th April. The deal is brokered by Infront Sports & Media, who is the exclusive Chinese media and marketing partner of the World Curling Federation. Read more on World Curling Federation Official Website (English)
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