 |
CSM and Alisports have agreed to a partnership to develop sports in China, the companies officially announced on Thursday. The London-based agency and the subsidiary of Chinese e-commerce giant Alibaba will develop and run a range of global sports properties and develop mass participation events across China. CSM CMO Tim Bampton did not specify what sports the agreement will focus on, only saying it will include "key global sports of note." Bampton: "[They will be] global sports and participation sports which have long-term potential in China. Motorsports will also find its way in there." CSM, the sports and entertainment arm of Chime Communications, already has an office in Shanghai. But the partnership with Alisports will "significantly" expand the agency's presence in the market, Bampton added. Commercial terms of the deal were not revealed. The agreement between CSM and Alisports follows recent investments by Chinese companies in global sports business entities. Chinese conglomerate Wanda Group last year acquired Switzerland-based agency Infront Sports & Media as well as the World Triathlon Corp. Bampton did not comment on whether this is a direct response to the Wanda's Infront acquisition. "We’ve chosen this route because we believe this route is right for us in the long-term in the market," he said. "We also think it's right for Alisports. We believe in their vision that they have for China and sports in China, and it’s a really exciting way to become involved in the region." It is expected that football will play a major role in the agreement after Chinese President Xi Jinping announced plans to raise the level of competition in the country. "We are going to shed more light on this in the very near future," Bampton said. Further announcements are expected early next week.
