Chinese Super League Announces Ping An Insurance As New Title Sponsor
IMG Worldwide and the Chinese Super League Co. Ltd. announced that Ping An Insurance has become the new title sponsor of the CSL. The four-year deal sets a record as the longest title sponsorship contract in CSL's history, making Ping An the first CSL title sponsor from the financial sector. The CSL attracted multiple companies to vie for the title sponsorship. Chinese FA Exec Vice Chair Yu Hongchen said, "We follow free-market mechanism to select the title sponsor" (IMG). Published reports from China last week placed the value of the deal at $25M a year, which would be around 150% higher than the deal the league had with property developer Wanda Group from '11-13. A source with knowledge of the deal confirmed the reported value of the new partnership (SBD Global).