Here are the top China sports business news stories you need to know from this week:
Trophée des Champions Lands in China
After their recent agreement with CCTV, the French Football League (LFP) has now reached a six-year deal with Kaisa Culture Sports and Tourism Group to stage the Trophée des Champions in Shenzhen. Read more on WeChat (Chinese) and SportsPro (English)
Formula One to Open Office in China
As part of their long term growth strategy and localisation within China, Formula One director of strategy Yath Gangakumaran has stated their plans to open an office in China. Read more on XinhuaNet (English)
Mailman Take: China represents a big opportunity for F1 who have made their intentions to grow in this market clear. The announcement of an agreement to keep the Chinese Grand Prix on the calendar until 2020 providing evidence of this. Over 15 years in China, F1 has developed a passionate fan base and attendance reached 165,000 at this years race, 80% of which represent core F1 fans.
Karting Schools in China
Two-time Formula 1 World Champion Fernando Alonso plans to establish 40 karting schools in China over the next 15 years. The schools will be opened in partnership with Chinese online gaming platform Tencent Games and hope to unearth local driving talent. Read more on Lanxiong (Chinese)
PSG Move on China
President of Paris Saint-Germain (PSG), Nasser Al-Khelaifi, officially confirmed their partnership with Chinese sports marketing agency Desports at the recent Soccerex China conference and gave further information as to their business strategy in China in terms of youth training and other domains. Read more on Sohu (Chinese) and PSG Official Website (English)
Suning Sports To Complete Round A Financing
Suning Sports is set to raise $600 million in round A financing, leading to the most recent valuation of Suning Sports set to exceed RMB 10 billion. Read more on Sohu (Chinese)
Mailman Take: Sports media broadcasting rights have played a crucial role for Suning in this round of financing. After acquiring digital streaming platform PPTV in 2013, they currently have the digital broadcasting rights to the Bundesliga, Serie A, La Liga and the Premier League from 2019-2022 and also provide coverage of the CSL and both the AFC and UEFA Champions League. After introducing a paywall for fixtures and league coverage last year, Suning have set a goal of 3 million paid memberships in 2018.
Ning Zetao Becomes Diesel Jeans Ambassador
The Italian clothing brand Diesel have signed hugely popular Chinese swimming star Ning Zetao as their global brand ambassador for their Jogg Jeans global promotion. Read more on Sina (Chinese)
Tencent Look to India
According to Indian Media, technology giant Tencent Holdings is in advanced negotiations to invest $100 million into Mumbai-based online fantasy sports platform Dream11. Read more on China Money Network (English)
Teams Announced for NBA China Games 2018
The NBA have announced that the NBA China Games 2018 will include two preseason games between the Dallas Mavericks and Philadelphia 76ers. Both teams are playing in China for the first time, and will play in Shanghai and Shezhen in October. Read more on NBA (English)
Sina 3×3 Golden League Welcomes New Sponsor
Korean food manufacturer Samyang Food have agreed a partnership with Sina’s 2018 3×3 Golden League. The nutritional support for players and fans during the 2018 Nanjing season allows Samyang Food to engage with younger consumers. Read more on Sina (Chinese)
Lululemon Embraces New Brand Ambassador
Chinese actress Yao Chen becomes the new brand ambassador for the Canadian yoga-inspired athletic apparel company Lululemon for 2018. The two parties will work together to raise health and fitness levels across Asian countries. Read more on Sohu (Chinese)
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