Yutang Weekly: What happened in the Chinese sports market (6/24 - 6/30)

Kweichow Moutai Group in negotiations to sponsor River Plate

According to Ole.com, Club Atlético River Plate, an Argentine professional sports club, are in negotiations with Moutai Group about making the Chinese liquor giant a sponsor and granting it the rights to advertise on the players’ shirts.

Sneaker resale platform nice finish Serie D financing

On June 24, sneaker resale platform nice announced that they had finished its Serie D financing, worth tens of thousands of US dollars. The financing is being led by TPG-SV and Vision+ Capital, and co-invested by Matrix Partners China and Fanchuang Capital. Fanzhuo Capital is the sole financial consultant for this round of financing. 

Visa announce 5 Chinese athletes joining Team Visa

Visa have announced that 5 Chinese athletes had joined Team Visa to prepare for the 2020 Tokyo Olympic Games. The 5 athletes are table tennis player Ma Long, badminton player Chen Long, divers Shi Tingmao and Chen Aisen, and gymnast Xiao Ruoteng.

PP Sports renew contract with WWE for another five years

PP Sports and the World Wrestling Entertainment (WWE) jointly announced on June 24 that they had completed the renewal of their copyright contract, with PP Sports continuing to be WWE’s sole new media partner for the next 5 years. PP Sports had previously signed a contract with UFC obtaining UFC’s new media copyright rights for 5 years. 

Chengdu launch market development campaign for 2021 Summer Universiade

On June 26, a press conference was held at the Bird’s Nest detailing the market development campaign for the 31st Summer Universiade which will be held in Chengdu, China, in 2021. The Chengdu 2021 Universiade Committee officially sent out their invitations to potential partners worldwide.

During the press conference, the Chengdu 2021 Universiade announced that they had already signed their first sponsor, Industrial and Commercial Bank of China (ICBC), making ICBC a tier one official partner of the Chengdu 2021 Universiade.

Qingdao planning to build professional stadium for the AFC Asian Cup

Vice director of the Qingdao Municipal Sports Bureau has announced that Qingdao is making preparations for the AFC Asian Cup as one of the 19 bidding cities submitted to the AFC for approval by the Chinese Football Association. As the AFC considers it important to have a professional stadium to host international level competitions, the Qingdao Municipal Sports Bureau is negotiating with Chengyang District to build a stadium in that city district. 

Qingdao to open eSports academy together with South Korea

On June 26, China and South Korea signed multiple agreements spanning eSports tournaments, the eSports industry, eSports education, the smart and safe usage of the Internet by teenagers, and Qingdao Thunderobot Technology’s full entry into South Korean market.

Reorganization plan of the China Sports Industry Group rejected

On June 26, the China Sports Industry Group Co., ltd announced that the company’s reorganization plan was rejected by China Securities Regulatory Commission. According to the plan, China Sports Industry Group would purchase 51% equity from the China Sports Lottery Technology Company and 62% equity from NSCC by issuing stocks and a cash payment, the purchase of 30% equity from China Sports Lottery Printing and 100% equity from Huaan Certification  through cash payments, and raise no more than RMB 550m from 10 entities or less through private equity placement. China Securities Regulatory Commission deemed the plan in violation of Provisions on Issues Concerning Regulating the Material Asset Reorganizations of Listed Companies.

Top Sports planning to list in Hong Kong Stock Exchange

On June 27, Top Sports International Holdings Ltd, a company controlled by Belle Group and geared towards the sports business, officially submitted its prospectus to the Hong Kong Stock Exchange, with its co-sponsors being Bank of America Merrill Lynch and Morgan Stanley.

Proofread by Raymond Fitzpatrick