China Sports Business Weekly | 23rd February
For the past week, China has been celebrating and welcoming in the Year of the Dog. Despite these celebrations, we’ve picked the top sports business news stories from the past 7 days.
Alibaba Teams Up with Renault’s F1 Team
The Renault Formula One team have announced a partnership with Alibaba-owned Tmall for the upcoming 2018 season. The deal will see the Tmall’s logo displayed clearly on Renault’s new F1 race car. Read more on SportsPro Media (English)
Mailman Take: Alibaba has announced several strategic partnerships with car brands in recent years, including collaborations with Ford, BMW, Volvo, Maserati, and Alfa Romeo. This deal is likely to please new F1 owners, Liberty Media, who have identified China as a key growth market for the sport moving forward. It will also benefit the recently extended Chinese Grand Prix by allowing Tmall to generate activity around and on-the-ground at the event.
AC Milan Owner Rubbishes Bankruptcy Reports
AC Milan president and owner, Li Yonghong, has declared reports he is bankrupt as ‘fake news’. Li admitted that the allegations have “severely damaged” the club, his companies, and family, adding: “The situation concerning my assets is safe and sound.” Read more on BBC Sport (English)
Football Association of Wales Set to Pocket £1 million for China Cup Participation
Wales are in line for a £1 million payday through taking part in the China Cup next month. However, this fee could be reduced by £100,000 if Gareth Bale is unable to feature. Read more on Ecosports (Chinese)
China Breeding New Generation of Athletes
China is currently investing billions of dollars into new ski resorts, skating rinks, and athletics programmes to help breed a new generation of athletes in order to succeed at the 2022 Beijing Winter Olympics. The country plans to build 800 ski resorts and 650 skating rinks by 2022, when it will host the next Winter Olympic Games. Read more on Business Insider (English)
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