Le Sports to buy two-year CSL media rights for RMB 2.7 bn

Le Sports, the subsidiary of China’s entertainment company LeEco, have reportedly acquired the exclusive internet media rights to Chinese Super League during the 2016 and 2017 seasons.

As stated in a news story posted today by www.caixin.com, the expected value for this deal is up to RMB 2.7 billion (US $414.18 million). A news conference will be held to disclose more details.

Last year, Ti’ao Power, a subsidiary of China Media Capital, reached a long term deal for rights to  produce and broadcast the CSL between 2016 to 2020, which is valued at RMB 8 billion (US$1.25 billion). Under their deal, Ti’ao has paid the CSL RMB 2 billion for the first two years’ media rights and is to re-sell the new media rights to Le Sports for RMB 2.7 billion.

Notably, in an official announcement, the CSL indicates that the matches should be broadcast on at least two new media platforms. Interestingly, Zhangyu.tv, another broadcaster of the CSL matches in the 2016 and 2017 seasons, is now a wholly-owned subsidiary of Le Sports, which makes the sports company become the actual exclusive new media broadcaster.

Source: caixin.com