Hisense Named Official Partner of FIFA Club World Cup 2025
01 Nov 2024 16:40
Suning Sports, the sports umbrella of Chinese e-commerce company Suning, started a USD-300-million Series A financing at the beginning of 2018, according to ebrun.com, a Chinese e-commerce outlet.
CMC and YF Capital invested in this round of financing and is expected to be completed over the next two weeks. The investments will be used for media rights purchase, marketing promotion, program production and retail expansion.
On March 31, Zeng Gang, Media Vice President of Suning Sports, confirmed this news by telling Tencent “more details will be disclosed later.”
At the same time, Suning denied the earlier reports about their plan to sell Inter Milan. “As a response to recent reports, we would like to make it clear that we have never considered selling Inter Milan. Our only focus at present is on the Serie A championship.”
Suning Sports sees sports media, smart devices, soccer training and commercial retail as their four major business pillars. They aim to create a smart sports community to meet the demands of 600 million Chinese sports users in viewing experience, intelligence, interaction, equipment, training and fitness.
Source: erun, ifeng & stock.cnfol.com
Proofread by William Logsdon
The United States Tops Skema Publika's First Annual Sport and Soft Power Ranking
27 Mar 2025 14:05
Related coverage
China to curb overseas investments in sports clubs
21 Aug 2017
Yutang Weekly: What happened in the Chinese sports market (8/12-8/18)
18 Aug 2019
Suning to become lead investor in Dong Qiudi
06 Dec 2016
Suning Sports to launch Series B Funding later this year
03 Aug 2019
Suning to assist in constructing Nanjing Football Town
27 Jul 2017
More from Yutang Sports
Yutang Sports
loading...