Menu
Finance

LeEco Founder Jia Yueting Reportedly Selling Most Of His Stake In LeSports

Struggling to "tackle mounting debt," Chinese tech group LeEco Founder Jia Yueting is reportedly "selling most of his stake in the group's LeSports unit to a new consortium," according to EJ INSIGHT. Jia currently holds a 30.66% stake in LeSports. The new consortium, formed by "several veteran investors," will replace Jia to become the largest shareholder of the company and revamp the board. The "exact date of the transaction has yet to be confirmed as there are still preconditions that must be met for the equity transfer." Members of the consortium and the value of the deal "were not revealed." The amount will cover the outstanding debts of LeSports, "with the balance going to the company's accounts," according to a person familiar with the matter. LeSports will revamp its board of directors after the deal, "aiming to enhance corporate governance, decision-making mechanism, as well as the management process" (EJ INSIGHT, 9/21).

SBJ Morning Buzzcast: March 18, 2024

Sports Business Awards nominees unveiled; NWSL's historic opening weekend and takeaways from CFP deal

ESPN’s Jay Bilas, BTN’s Meghan McKeown, and a deep dive into AppleTV+’s The Dynasty

On this week’s Sports Media Podcast from the New York Post and Sports Business Journal, ESPN’s Jay Bilas talks all things NCAA. Big Ten Network’s Meghan McKeown shares her insight into the Caitlin Clark craze. The Boston Globe’s Chad Finn chats all things Bean Town. And SBJ’s Xavier Hunter drops in to share his findings on how the NWSL is making a social media push.

Learn more about your ad choices. Visit megaphone.fm/adchoices

SBJ I Factor: Nana-Yaw Asamoah

SBJ I Factor features an interview with AMB Sports and Entertainment Chief Commercial Office Nana-Yaw Asamoah. Asamoah, who moved over to AMBSE last year after 14 years at the NFL, talks with SBJ’s Ben Fischer about how his role model parents and older sisters pushed him to shrive, how the power of lifelong learning fuels successful people, and why AMBSE was an opportunity he could not pass up. Asamoah is 2021 SBJ Forty Under 40 honoree. SBJ I Factor is a monthly podcast offering interviews with sports executives who have been recipients of one of the magazine’s awards.

Shareable URL copied to clipboard!

https://www.sportsbusinessjournal.com/Global/Issues/2017/09/26/Finance/Lesports.aspx

Sorry, something went wrong with the copy but here is the link for you.

https://www.sportsbusinessjournal.com/Global/Issues/2017/09/26/Finance/Lesports.aspx

CLOSE