Le Sports announced yesterday (11th May) that the company will set up a joint venture with YL Entertainment & Sports to tap the sports tickets market.
As Le Sports CEO Lei Zhenjian revealed, the company will inject RMB10 million into the joint venture, which will enable Le Sports become the holding partner of the new venture with its 51% stake.
The new company will have a broad portfolio in ticketing services for overseas and domestic sports events, covering leagues, national team fixtures, exhibition matches, international friendlies, comprehensive sports games, e-sports events and mass sports activities.
In marketing and sales, Le Sports will promote the association between its sports content and ticketing sales through big data. Additionally, the newly established company will also be promoted by the sales channels on Lemall and YL Ticket.
Le Sports has already bought a 7.04% stake of YL E&S, which currently has around 50% market share in sports tickets.
Proofread by Sean O Diobhilin.