Published February 18, 2014
The Chinese Super League is set to announce its new sponsor later this month.
Chinese financial group Ping An "is rumored to have won the bid" as the new sponsor of the Chinese Super League, according to the WANT CHINA TIMES. While the new sponsor, set to replace property developer Wanda Group, will not be announced until later this month, a report said that "Ping An reportedly has won the three-year naming rights" with its offer of 150M yuan ($24.7M) a year. In comparison, Wanda paid 65M yuan ($10.7M) per year between '11 and '13 "to become the main sponsor of the league with the naming right." Sport business consultant Yang Yan said, "At this time, anyone that becomes a sponsor of CSL will see their money well-spent, since the football business will gain momentum in the long-term." Despite a decline in revenue following the government crackdown on gambling in '09, "the company set up by the football association to run the CSL saw its income double" to 370M yuan ($61M) in '13 from the previous year, and posted a net profit of 119M yuan ($19.6M). Ping An Bank made two failed attempts to become a football sponsor in '09 and '10 before the recent bid, "which is linked to the group's reported plan to introduce a football lottery in China" (WANT CHINA TIMES, 2/17