VivaTech takes the stage as the world's leading event for tech and startups
19 Jun 2023 18:33
Spanish LaLiga side Real Sociedad has announced they have officially canceled the sponsorship deal with Qbao.com, citing that the Chinese online financial platform failed to fulfill the terms of their contract in the past month.
As said in the official Sina Weibo post on Wednesday (January 31), “Real Sociedad states openly that Qbao.com will no longer be our major sponsor from today. Considering that Qbao.com, caught up in negativity over the past month, failed to fulfill the obligations and responsibilities required in our commercial sponsorship contract. Real Sociedad has decided to terminate the contractual relationship and sponsorship deal with Qbao.com.”
Their current contract, expected to run through 2020, is an extension the two sides signed to continue their 2014 deal.
According to an earlier report, Zhang Xiaolei, head of Qbao.com, surrendered to the Nanjing Municipal Police in the investigation of an alleged fraud committed by the company. The LaLiga side has been seeking to minimize negative publicity brought by associating with Qbao.com, and has finally decided to terminate the contract with their Chinese sponsor.
Qbao.com is also the title sponsor of Chengdu Qianbao Football Club, a China League Two division club based in the southwestern Sichuan province.
Source: Sina
Proofread by William Logsdon
Related coverage
Real Sociedad to open weibo and visit China
13 Feb 2015
LaLiga side Espanyol signs Shanghai SIPG striker Wu Lei
29 Jan 2019
Yinglets forms partnership with LaLiga
13 Aug 2019
Chinese patrons pour €100M annually into 16 Spanish clubs
08 Oct 2015
European football in China: digital dog fight
17 Jun 2015
More from Yutang Sports
Registration open - SportAccord World Sport & Business Summit
18 Dec 2023
SportAccord Welcomes Return of Principal Media Partner Yutang Sports
01 Feb 2024
Discover why SportAccord plays central role for Silvers in strategic partnerships
22 Feb 2024
SportAccord 2024 - MediaAccord is ‘rare opportunity’ to meet before Paris 2024
08 Mar 2024
Meet the world-class speakers on SportAccord’s Plenary sessions
23 Feb 2024
Yutang Sports
loading...