SportAccord Summit 2024 Logo Unveiled
29 Nov 2023 19:09
Hualu Baina Film& TV Inc. (HBN) has officially inked the deal today with Euroleague Basketball and 11 Group on launching a joint venture to market Europe's premier professional basketball league in China with the signing ceremony held at Wukesong Stadium, Beijing.
The deal, which is worth more than €30 million, is set to last 15 years should mutual objectives be met after every five-year period.
HBN, with strategic plans to explore the sports sector, has raised eyebrows since joining in as a player in sports industry by registering an RMB500m sports company and planning RMB1b investment in winter sports.
Euroleague Basketball firstly landed in China eight years ago with CSKA Moscow and Benetton Treviso playing exhibition games against Yao Ming's Team China near Shanghai.
Jordi Bertomeu, CEO & president of Euroleague Basketball, said on the conference that HBN, as a leading media brand in China, is the best choice for Euroleague to partner with on the business sector in China in the long run.
The innovative collaborations would enhance the brand awareness and influence of Europe's premier professional basketball league in China, commented HBN’s CEO, Li Dehong.
Related coverage
Trilateral co-operation in Arxan’s outdoor industry
24 May 2016
Letv and Letv Sports invested 15 million RMB in Edoon
09 Jul 2015
Boao Highlights(II): CBA is a still freshman in the sports market
28 Mar 2016
Chinese clubs spend $430 million
03 Mar 2016
Former Olympic champion launches fitness app
05 Nov 2015
More from Yutang Sports
Yutang Sports
loading...