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
22 Jun 2016
Beetle Sports complete A+ round of financing
23 Dec 2016
To win, or not to win, that is the question
10 Feb 2015
Li Na to promote WTA Wuhan Open
21 Sep 2015
Chinese reportedly eyeing biggest F1 stake in $8.5bn bid
19 Oct 2015
More from Yutang Sports
SportAccord calls for the power of sport to lead anti-abuse actions
17 Apr 2024
Birmingham is embracing a bright future supported by extraordinary sporting legacy
17 Apr 2024
SportAccord Plenary Conference had fruitful talks about the soft power of sport
17 Apr 2024
Discover the SportAccord Summit sessions!
31 Jan 2024
Future of Sport: a resounding success for the Global Sports Week and Viva Technology collaboration
21 Jun 2023
Yutang Sports
loading...