VivaTech takes the stage as the world's leading event for tech and startups
19 Jun 2023 18:33
China’s sports marketing company SECA World announced yesterday (January 21), at JW Marriott Hotels Beijing, that the company has raised around US$100 million from China Media Capital (CMC).
Speaking about the deal, CMC President Li Ruigang said “China’s sports industry has entered into a golden era and is developing at a high speed. We believe, that within a few years, we will see significant innovative development in native Chinese sports events, brands, personnel, marketing and even operating systems.”
“SECA is a fore-runner in this industry and has in-depth knowledge of the market and its operation after years of accumulated experience. This will be an important part of the presence that CMM holds in sport,” Mr. Li continued.
As Li Sheng, President and CEO of SECA, said “Obtaining capital is a wonderful start, but we are still at the preliminary seeding stage and can’t monetize any of our projects in the near future. However, if we carefully nurture them, we can reach great achievements and bring more vigor to Chinese sports.”
CMC has been a heavy spender in sport over the past year, most notably with the lucrative CSL broadcasting deal and the investment in City Football Group.
Proofread by John Devlin.
Related coverage
Hainan Province releases five-year provincial fitness program
16 Dec 2016
Chinese pro sports market to reach $242 billion by 2025
21 Jun 2016
Chinese conglomerate links with Jorge Mendes
19 Jan 2016
$7m investment for former Chinese e-game player
27 Apr 2016
Capitals have crowded into Chinese sports industry
16 Jun 2015
More from Yutang Sports
SportAccord 2024 - MediaAccord is ‘rare opportunity’ to meet before Paris 2024
08 Mar 2024
SportAccord Bronze Partners Make Their Mark on Global Stage
08 Mar 2024
SportAccord Media Partners will ensure global audiences are primed with latest news in sport
02 Mar 2024
SportAccord Summit 2024 Logo Unveiled
29 Nov 2023
HealthAccord spotlights mental health and female athlete well-being
08 Feb 2024
Yutang Sports
loading...