Alisports to set up Suzhou subsidiary

Shanghai-based Alisports has signed a deal with the building decoration engineering company Gold Mantis to set up Alisports Suzhou. The two sides are looking to invest RMB 20m in the new company, and Alisports will make an RMB 11.2m investment for a 56% share.

In addition to this, the pair are going to launch smart venues plans and to create a sports industry fund valued at RMB 10 billion.

At the beginning of this month, Alisports unveiled a revolutionary partnership with the Bird’s Nest and Water Cube. This move aims to create a better fan base for these stadia, by integrating their cloud computing and big data technology.

To carry through its big plans, Alisports is set to make heavy investment in smart venues and management systems. In the short term, 20 cities will be chosen to run pilot projects. In the long term, 100 cities will be covered, to upgrade thousands of stadiums and venues.

Source: Tencent

Proofread by Sean O Diobhilin