Hualu Baina inks deals with Euroleague Basketball and 11 Group

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.