September 13: Fujian SBS Zipper Science & Technology Co.,Ltd. have released a statement announcing that they had signed a one-year sponsorship deal with the Fujian Province based Chinese Basketball Association (CBA) club Fujian SBS Sturgeons, at a price of RMB 6 million (US$916k).
This deal will see Fujian SBS directly own 37% of the shares in the club, while its subsidiary company Fujian Xunxing Real Estate Development Co., Ltd will receive 50% shares in the club.
Under this agreement Fujian SBS will become the club's title sponsor for the upcoming 2017/18 season during which the Fujian SBS' logo will feature on the players' jerseys and all the activities related to the club. Also in the off-season and when players are not training, the club should attend not less than five commercial campaigns carried out by Fujian SBS.
Founded in 1992 and headquartered in Jinjiang, Fujian Province, Fujian SBS Zipper Science &Technology Co.,Ltd has become a leader in China's zipper industry. Fujian SBS Sturgeons was founded in 1999 and has been competing in the CBA league since 2003.
Proofread by Raymond Fitzpatrick