Shanxi Fenjiu announced on December 3 that they will title sponsor the CBA team Shanxi Brave Dragons for three seasons (covering the 2018/19 - 2020/21 seasons) for CNY40m and will further reward the team depending on the team reaching the playoffs and their final playoff ranking.
This sponsorship has happened not long after Shanxi Fenjiu pulled their investment of the Brave Dragons.
Shanxi Fenjiu is an iconic baijiu brand in Shanxi and also one of the most famous baijiu brands across China. They were previously investors in Shanxi Brave Dragons from 2013 to 2018.
Before the start of the 2018/19 CBA season, they pulled out and transferred the team to Shanxi Investments Group, a state-owned corporation, with the club changing to a new logo, adopting a new Chinese company name, Shanxi Guotou Professional Basketball Club and employing a new head coach. The news conference to announce the changes was held on September 30 of this year in Taiyuan, the capital city of Shanxi Province.
According to an online blog, Jingzi Sports, during the period of investment in Shanxi Brave Dragons, Shanxi Fenjiu invested around CNY20m every year in the team but the team still faced deficits. With the new title sponsorship, it seems that Shanxi Fenjiu will be able to continue its association with the team with significant less investment.
Shanxi Brave Dragons did not reach the playoffs in the 2017/18 CBA season, ranking 14th among 20 teams.
Proofread by Raymond Fitzpatrick