In China focus has now shifted from winning medals at Olympics to dominating world sports resulting in a meteoric rise of football, basketball, and other sports. Chinese corporates are supporting the revolution by investing in sports and are working with the government in dominating world sports.
Leading the sports domination charge are four of China’s biggest corporate houses – Wanda group, Suning group, Alibaba group and Kaisa group.
- Kaisa and Alibaba group have created a 10billion (Yuan) sports fund and aim to create thousand’s of sports venues in hundred cities in China.
- Wanda group has invested close to US $2billion in global sports related acquisitions including 1.05 billion Euro deal to buy infront group.
- Alibaba group is also harnessing it’s e-commerce powers to foray into the familiar retail route and have also become FIFA and AIBA sponsors/partners.
- Suning group has invested heavily in football both in China and Europe with the buyout off Italian football giants Inter Milan.
Partnerships are very important to Chinese billionaires as they have set out to invest in sports in the west mainly football rights holders acquisitions in Italy, Spain and England.
While back home in China directives for building brands through sports partnerships. A six steps plan is in place to create valuable knowledge sharing programs starting with selecting partners strategically to measuring outcomes of the partnerships effectively.
China is also ensuring the nation is getting exposure to best of sporting action from all over the world and from sports in the country by focusing on providing the best of content through broadcasting deals.
Some feel the sports development in China is moving too quick but it’s a planned growth with a well-defined agenda and with the 2025 planned framework I am of the opinion that they will achieve their target and become the global leaders in sports.
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