Future of Sport: A Global Sports Week x Viva Technology Collaboration, Will Open in June 14
12 Jun 2023 14:59
On its 10th anniversary, the Chinese Football Association Super League is poised for incorporation and may become the sports company with the largest valuation worldwide, set at 10 billion yuan (US$1.55 billion) by some market insiders, according to Guangzhou's 21st Century Business Review.
Founded in 2005, CSL racked up revenue of 440 million yuan (US$69 million) in 2014 and boasts good prospects thanks to rising royalties and audiences as well as sales of derivative products. Leading insurer Ping An Group has paid 600 million yuan (US$93.6 million) to CSL for a four-year sponsorship deal.
To facilitate its future development, the league will be converted into a corporation, taking over control from the China Football Association, at present the largest shareholder with a 36% stake, according to a reform program for the association unveiled at a meeting convened by the country's General Administration of Sport on Aug. 17, the paper reported.
Many of the CSL's 16 member clubs, with a 4% stake each, have complained of the dominant role of the China Football Association and have demanded a greater say and more autonomy in the league's operations, which they believe is essential for its development.
With market players speculating about potential buyers of the association's stake, worth about 3.6 billion yuan (US$561.5 million), Wang Jianlin, chairman of realty giant Wanda Group and China's richest person, has emerged as the frontrunner, according to the report.
Taken from Want China Time
Future of Sport: A Global Sports Week x Viva Technology Collaboration, Will Open in June 14
12 Jun 2023 14:59
Related coverage
Guangzhou to set up large pro football stadium
26 Aug 2016
Qbao could benefit from Zhang's historic move to La Liga side
23 Jul 2015
25 Jul 2016
Quanjian unveils new youth football centre
12 Jul 2016
Brazil media hails growing soccer presence in China
05 Jun 2015
More from Yutang Sports
Interview with Andreas Zagklis: to keep popularization of basketball with all-round strategy
08 Jul 2024
SportAccord 2024 - MediaAccord is ‘rare opportunity’ to meet before Paris 2024
08 Mar 2024
SPORTACCORD 2024 INSIGHTS: Sport’s Perfect Storm
23 May 2024
SportAccord's interview with Sarah Gregorius: proactive actions are necessary to tackle online abuse
28 Apr 2024
WFDF is ready to fly in Chengdu for the World Games 2025
17 Apr 2024
Yutang Sports
loading...