Yutang Weekly: What happened in the Chinese sports market (8/12-8/18)

Yinglets forms partnership with LaLiga

Yinglets, a company that focuses on sports education and the physical health and wellbeing of Chinese children, has formed a strategic cooperation with the Spanish LaLiga. The two parties will work together to build a comprehensive sports education platform for Chinese children.

Joseph Tsai to buy 51% of Brooklyn Nets

The vice chairman of Alibaba Joseph Tsai is close to buying 51% of the NBA team Brooklyn Nets. The deal is expected to be officially announced this week. 

Tsai bought 49% of the Nets in 2018 for $1 billion, and locked in the right to buy the remaining 51% of the team before the 2021-2022 basketball season for an additional $1.35 billion.

With this new deal taking place, Tsai would pay a total of $2.35 billion for the ownership of the Nets, making the transaction the highest price ever paid for a sports franchise.

Chongqing to hold China-Russia Youth Games 2021

The southwestern Chinese city of Chongqing will host the China-Russia Youth Games 2021. 

The Games will consist of eight disciplines, including cycling, taekwondo, swimming, rhythmic gymnastics, hand ball (women), football, beach volleyball and badminton. 

CNBL form strategic cooperation with MLB

On August 15, the China National Baseball League (CNBL) held a joint press conference  with the Major League Baseball (MLB) in Tianjin, China, with the two parties signing a strategic cooperation agreement.

iQiyi Sports acquire exclusive streaming rights to LaLiga’s 2019-20 season

On August 15, iQiyi Sports disclosed that they will exclusively stream the 2019-20 LaLiga football season in China.

The 2019-20 season of the Spanish football league will begin on August 17. Other than streaming 380 LaLiga matches that will be played over the season, iQiyi Sports will also create original content around the Spanish league, and will constantly provide match information, hot news and information about the games. They will also launch an official channel for FC Barcelona, providing more exclusive videos about the football club.

Suning Sports, Alibaba Sports suspend collaboration: media report

The latest news out today is that Suning Sports and Alisports have suspended their ongoing work to build a joint-venture company for sports events broadcasting and are waiting to renegotiate the terms of their partnership arrangement. 

Hampton by Hilton launch partnership with 2019 Shiseido WTA Finals Shenzhen

On August 16, the hotel brand Hampton by Hilton jointly held a ceremony with the 2019 Shiseido WTA Finals Shenzhen to officially launch their new partnership , with Hampton by Hilton becoming the tennis event’s official sponsor and sole hotel partner.