E-Commerce Firm Rakuten Buys Japanese Football Club Vissel Kobe

Alibaba bought a majority share in Chinese football team Guangzhou Evergrande this summer, and now Rakuten "is entering the sport in Japan after agreeing to buy Vissel Kobe," a top-flight J.League club founded in '95, according to Jon Russell of TECH CRUNCH. Unlike Alibaba which acquired a majority stake in Evergrande, Rakuten "has bought Vissel Kobe outright." It has not revealed a price for the deal though, which "is expected to close before the end of the year." There have been links between the two for some time. The Japanese e-commerce firm "has been Vissel Kobe’s shirt sponsor since 2004," and it said that the move "will help market its myriad of services in Japan -- which includes banking, smartphones and more beyond just online retail." It has also pledged to use its sports “experience” and resources to “strengthen and develop” the Vissel Kobe team (TECH CRUNCH, 12/7).