Ali Sports Group, the sports unit of Chinese e-commerce giant Alibaba Group, will sign a strategic cooperation framework with the Chinese Boxing Federation (CBF), according to Sports.cn.

The deal signals that the Alibaba Group has stretched its arms into boxing following its major investment in Chinese Super League side Evergrande FC and the establishment of a sports unit. 

As part of the deal, Ali Sports Group will utilise its competitive edge on technology and data to help CBF with event information gathering and resource exploitation. At the same time, Ali Sports will work closely with the CBF to promote CBF events and Chinese boxing culture among a larger target audience.  

It is understood that this comprehensive strategic partnership between Ali Sports and CBF involves a “huge” amount of money. 

Based on its digital ecosystem, Ali Sports will work along with the boxing federation on its digitalization as well as the commercial development of CBF events and its intangible assets. Ali Sports will also help CBF to develop a second squad and youth teams. 

Under the partnership, CBF will also provide more opportunities to have a greater number of high level coaches, training sessions and matches abroad. 

Source: Sports.cn

Proofread by John Devlin