Guangzhou Evergrande Goes Public
Chinese Super League football team Guangzhou Evergrande was listed on the New Over-the-count Market on November 6, becoming the first football stock in China. Reports show that the team has been losing money in these three years. However, it is said that they wanted to become profitable in 2016.
The Chinese Super League (CSL) has signed a 2-year sponsorship deal with energy drink provider Red Bull of REIGNWOOD FMCG Group. Red Bull becomes an official partner and the official energy drink provider of the Chinese top tier football league for the next two seasons. The signing was conducted on Thursday.
Chinese online video platform iQIYI announced to become the official digital streaming portal of PGA Tour in China from 2016 through 2020 at a press conference in Shanghai. Under the deal, the Chinese online streamer will have rights to live stream more than 1,500 hours of 40 PGA Tour tournaments, including the Players Championship, all FedExCup events and the Presidents Cup, as well as the World Cup.
China's online streaming platform iQIYI has announced on Wednesday a ten-year deal with The Women’s Tennis Association (WTA) for its exclusive digital rights in the country. The deal, with areported fees around US$120 million, will commence in 2017 and will mark the online streamer exclusively live screen over 2,000 WTA games every year in China until the end of 2026, according to a report from SportsPro Media.
China’s Rastar Group announced on Monday that its Hong Kong unit will buy a majority stake in Spanish football club Espanyol and then invest up to €45 million, according to Reuters. The company, based in China's southern Guangdong province, said it is set to buy up to 56 percent of the Barcelona-based Espanyol. It will pay €78 per share for a 45.1- 56 percent of the stakes in a deal valued between €143m and €178m.