Yutang Weekly: What happened in the Chinese sports market (7/22-7/28)

Li Na inducted into Tennis Hall of Fame

On July 20, at the 2019 International Tennis Hall of Fame Induction Ceremony held in Newport, Rhode Island, USA, retired Chinese tennis star Li Na was officially inducted into the Tennis Hall of Fame, becoming the first Asian player to receive this honor.

Suning and PP Sports to increase investment for sports business

Sun Weimin, Vice President of Suning Holdings Group and Vice Chairman of the Board of Suning.com, has confirmed that Suning will raise investment in sports industry to meet customers’ demands ranging from content to related experiences. The statement was made on July 19 in Shanghai, at the PP Sports & Premier League collaboration for Season 2019/2020 - 2021/2022 press conference.

Alibaba named Ticketing Systems and Services Provider for Beijing 2022

The Worldwide Olympic Partner Alibaba Group has been appointed as the Ticketing Systems and Services Provider for The Winter Olympic Games Beijing 2022 by the International Olympic Committee and the Beijing 2022 organizing committee.

T3 Go launched before Inter Milan summer friendly in Nanjing

Two days before Inter Milan’s July 24th summer-friendly against Juventus FC in Nanjing, China, the tour’s official partner, T3 Go, have launched their service in Nanjing.

T3 Go is a Chinese mobile transportation platform whose services are similar to Didi. Established in April 2019 and headquartered in Nanjing, T3 Go is using the summer tour and the partnership as a marketing opportunity for the launch of their services in Nanjing.

Qiaodan Sports signs actress Tang Yixin as ambassador

The Chinese sportswear brand Qiaodan Sports have signed an endorsement deal with Chinese mainland actress Tang Yixin. Tang announced the partnership on her Weibo account on July 20.

Ministry of Education hold press conference to outline school football report

On July 23, the Ministry of Education of the People’s Republic of China held a press conference outlining the “Work Report on National Youth Campus Football (2015 – 2019)”. According to the report, the basic framework of campus football reform has been established, and the next step will be to flesh out the framework.

NBA 2K announces Tencent as Chinese broadcast partner

The eSports organization NBA 2K League, has partnered with Tencent, making the latter its first Chinese broadcasting partner, according to NBA.

This is the first time that NBA 2K League gets an official airing in the Chinese mainland.

Alipay launches initiative to support rural schools football

Less than a month after Alipay announced that it will plow 1 billion RMB over the next decade to support women’s football in China, the third party mobile and online payment platform has launched another initiative called ‘Chasing the Wind’, which aims to provide funds over the next 5 years to 100 primary school football teams and girls’ football in less developed rural areas.

Cultural Investment Holdings signs up as 2022 Beijing Winter Olympics and Paralympics Official Sponsor

On July 26, at the press conference of the Official Cultural Event Planning and Management Sponsor of the Beijing 2022 Olympic and Paralympic Winter Games in Beijing, it was announced that Cultural Investment Holdings has become the Official Cultural Events Sponsor of the 2022 Beijing Winter Olympics and Paralympics.

China Basketball Museum to be built in Tianjin

On July 25, the Vice Chairman and Secretary General of the Chinese Basketball Association Bai Xilin and the Secretary of Party Committee and Director of the Tianjin Municipal Sports Bureau Li Kemin, on behalf of the Chinese Basketball Association and the Tianjin Municipal Sports Bureau respectively, signed a letter of intent about building a China Basketball Museum in Tianjin. The two parties will work together in the preparation and building of the museum, which is expected to open to the public in 2021.

Tencent renew contract with NBA

NBA and Tencent have renewed and signed a contract that enables Tencent to retain the digital media copyrights of the NBA for the 2020-2025 seasons. The contract is reportedly worth $1.5 billion over 5 years, almost three times the existing contract between the two parties.

2022 Beijing Winter Olympics and Paralympics launch campaign to solicit suppliers

On July 26, the Director of the Market Development department of the 2022 Beijing Winter Olympics Organizing Committee, Mr. Piao Xuedong, announced that the organizing committee have launched a campaign to seek official exclusive suppliers and official suppliers for the Winter Olympics and Paralympics.

Wanda Sports listed on Nasdaq

On July 26, Wanda Sports Group Company Limited (Nasdaq: WSG) was successfully listed on Nasdaq with listed assets including Infront, IRONMAN and Wanda Sports China business units. Wanda Sports opened at $6, a 25% drop from the issue price of $8, and closed at $5.16, making its market capitalization of $727 million.