SportAccord Summit 2024 Logo Unveiled
29 Nov 2023 19:09
After a successful 12 year win-win partnership with CBA, Infront Sports & Media have started priority renewal negotiations with the Chinese Basketball Association and CBA League (Beijing) Sports Co., Ltd before the former agreement expires at the end of March. According to the current contract, Infront can start priority negotiation rights on any renewal issues 3 months prior to contract talks and also have priority competitor counter offer rights, enabling itself to quote prices to counteract any competitor offer.
The CBA and Infront signed a 12-year-long cooperation agreement in May 2005, adopting a 7+5 year model, in which the CBA had to renegotiate with Infront after the first 7 years. Infront has to give the CBA a fixed annual sum of at least US$6.5m. Once it turns a profit, Infront has to pay the majority of this profit to CBA, leaving Infront with a 15%-22% return. In fact, Infront became profitable around 2010, and successfully signed a 5-year 336m RMB extension agreement with the CBA outbidding multiple rival bids.
Infront now operates in 25 types of sports, has 20 of the world’s top sports events and has a sporting calendar of over 4,000 days annually.
Philip Blatter, the Group President & CEO of Infront, said: “we will take full advantage of available resources to operate CBA, the top sports contest in China and Asia, and we believe it will lead in the sport industry.”
Source: Sohu Sports
Proofread by Raymond Fitzpatrick
Future of Sport: A Global Sports Week x Viva Technology Collaboration, Will Open in June 14
12 Jun 2023 14:59
Related coverage
03 Aug 2017
13 Dec 2017
CBA to add two new digital media partners
29 Sep 2018
Four companies to take over Yao Ming's Shanghai Sharks
01 Aug 2017
Weekly Report: Basketball games wrapped up 8 positions in the TOP 10 list
28 Dec 2017
More from Yutang Sports
Yutang Sports
loading...