VivaTech takes the stage as the world's leading event for tech and startups
19 Jun 2023 18:33
Shenzhen Jushenghua, an investment company owned by Baoneng Group, has acquired the assets and operation rights of Guangzhou International Sports Arena for RMB 3.7 billion, according to a report released by Caixin Media, a Beijing-based financial news outlet.
As revealed in several news reports, Baoneng’s investment in the Arena dates back to March this year. The 120,000-square-meter facility is one of three NBA basketball arenas in China, complete with Beijing's Wukesong and Shanghai's Mercedes-Benz arenas. With a capacity of 17,773 seats, it has also has hosted basketball events of the 16th Asian Games in 2010.
It is reported that Baoneng is also involved in the business of local sports on April 25, through an agreement with Guangzhou Development District (GDD).
As part of the agreement, Baoneng is looking to set up its headquarters for its investment business, valued innovation town, sports and cultural center in the city.
It is worth noting that this is the first time for Baoneng to embrace the sports industry, as the Group’s main business fields are health care, education, pension services, science parks, financial sectors, culture and media.
Proofread by William Logsdon
Related coverage
Beijing Guoan FC, a valuable property in Chinese soccer
07 Jan 2016
Children basketball league organizer raises 20m yuan in Series A financing
08 Jan 2018
NCAA team scheduled to play 4 games in China
11 Jun 2015
15 Mar 2016
Le Sports announces new basketball deal
17 Jun 2016
More from Yutang Sports
Reasons why Leading Gold Partner Sport Event Denmark returns to SportAccord every year
08 Feb 2024
SportAccord Plenary Conference had fruitful talks about the soft power of sport
17 Apr 2024
Future of Sport: a resounding success for the Global Sports Week and Viva Technology collaboration
21 Jun 2023
SportAccord scores Summit touchdown with NFL
18 Jan 2024
SportAccord Bronze Partners Make Their Mark on Global Stage
08 Mar 2024
Yutang Sports
loading...