|  Register / Login

CMC deepens involvement in Chinese football

Wednesday, 23 Dec 2015 14:30   |   By He Lanying

12310

China Media Capital (CMC), a state-backed investment firm chaired by media mogul Li Ruigang, has enhanced its efforts to deepen its commitment to the Chinese football industry following its earlier decision to buy a 13% stake in City Football Group(CFG) for US$400m (around £265m). Apart from its famous football property Manchester City FC, CFG also owns other sister clubs including New York City FC and Melbourne City FC.

The Chinese company has recently announced a strategic partnership with UPBOX, a newly-established company specializing in youth football training and the operation of amateur football events. Under the deal, CMC will inject new capital into UPBOX but the investment details have not been revealed. 

Established in March 2015 by the famous football commentator and PPTV Sports founder Zhou Liang, UPBOX owns 15 football pitches covering nearly 3,500 sqm and has 489 registered junior members. In addition, UPBOX has brought its business online with over 500 community football teams registered on its app.

Apart from this deal, CMC has also announced, in mid October, its investment in EUMEDIA, the exclusive agency to run the China University Football League (CUFL), so deepening its presence in Chinese football. 

Source: Sohu

Proofread by John Devlin

Tags: Chinese football,investment

Related News

Join the DiscussionLog in >>

Submit

Comments

Terms of Use        Privacy Policy        Cookies        Contact Us        Copyright © 2015 Yutang Sports. All Rights Reserved.|