Future of Sport: A Global Sports Week x Viva Technology Collaboration, Will Open in June 14
12 Jun 2023 14:59
China United Travel Co., Ltd (CUTC), a public-listed company focusing on leisure and travel tourism, announced last Friday that Suzhou Hualv Xinji Sports Investment Center, one of its joint ventures, will purchase 55% of the shares (at a premium) of Beijing Future Sun Sport & Culture Company.
As reported in news stories, Hualv Xinji is a joint venture launched in October by CUTC’s sports subsidiary and other Shanghai-based investment companies. The venture is targeted at expanding CUTC’s sports business. It is said that this purchase deal, which is worth ¥20 million yuan, will pave the way for CUTC to enter the basketball market.
Future Sun is a Beijing-based sports company founded in 2013. Its major brand is China Show1 Basketball Club, which specializes in basketball training in China. With the help of the Harlem Wizards and the United States Basketball Association, the company has developed its businesses in Events Operation, Basketball Dream Shows, Basketball Art Exhibitions and International English & Basketball Camps.
Source:Sina
Proofread by John Devlin.
Future of Sport: A Global Sports Week x Viva Technology Collaboration, Will Open in June 14
12 Jun 2023 14:59
Related coverage
210 million viewers in China for World Snooker Championship
05 May 2016
Wellington Phoenix to play friendly in Beijing
30 May 2016
China's Quanjian Group sponsors local volleyball team
14 Oct 2015
Panel Discussion: How to exploit the commercial value of Chinese basketball market?
17 Dec 2015
Wanda looking for more opportunities to build sports business sector
28 Aug 2015
More from Yutang Sports
SPORTACCORD 2024 INSIGHTS: Touchdowns, Home Runs and Slam Dunks
12 Jun 2024
SportAccord Plenary Conference had fruitful talks about the soft power of sport
17 Apr 2024
Interview Part I with Martin Gibbs, Managing Director of SportAccord: the Power of Sport Is Real
21 Mar 2024
SportAccord calls for the power of sport to lead anti-abuse actions
17 Apr 2024
WFDF is ready to fly in Chengdu for the World Games 2025
17 Apr 2024
Yutang Sports
loading...