Hong Kong FA Courts Top Corporate Sponsors To Help Bankroll New League
The Hong Kong FA "hopes to secure" HK$20M ($2.6M) in sponsorship from "global corporations" as part of its plans for a proposed new Premier League, according to Chan Kin-wa of SOUTH CHINA MORNING POST. HKFA Vice-Chair Steven Lo Kit-sing said on Wednesday that "discussions were ongoing with more than one firm." Lo said, "These are not small companies but global corporations that have a strong financial background." He added, "The new money could be used as prize money for the league and cup competitions, and if everything works out, we may also be able to give subsidies to clubs to strengthen their management, sports science support as well as youth and senior squad training." HKFA CEO Mark Sutcliffe admitted that "greater sponsorship is vital with most clubs finding it difficult to generate sufficient revenue." Sutcliffe said, "The association is acutely aware of the need to generate more resources for the teams and this will be particularly important in the future as we move towards a new Premier League." The HKFA's strategic plan will see next season serve as "a transition year" before the new league begins in the fall of '14. There will be 12 teams rather than 10 (SCMP, 2/7).