Negotiations with a Chinese company for a WTA Tour lead sponsorship deal "have been suspended," in part due to the "political strife over trade barriers between the U.S. and China," according to Daniel Kaplan of SPORTS BUSINESS JOURNAL. Sources said that the nearly-complete talks between the two sides "turned quickly" the day after a top Chinese exec with Huawei was "arrested Dec. 1 in Canada at the U.S.’s request for allegedly violating U.S. sanctions against Iran." The WTA has been "looking for a top sponsor" since '12 (SPORTS BUSINESS JOURNAL, 1/28 issue).
CRIMINAL CHARGES: BLOOMBERG's Patricia Hurtado reported U.S. prosecutors filed criminal charges against Huawei Technologies Co., alleging it "stole trade secrets from an American rival and committed bank fraud by violating sanctions against doing business with Iran." Huawei has been the target of a "broad U.S. crackdown," including allegations it sold telecom equipment that "could be used by China’s Communist Party for spying." In a 13-count indictment in Brooklyn, the government alleged Huawei, two affiliated companies and CFO Meng Wanzhou of bank and wire fraud as well as conspiracy in connection with business in Iran (BLOOMBERG, 1/28). Huawei is a sponsor of a number of int'l sports properties and athletes, including National Rugby League side Canberra Raiders, Lionel Messi and Sri Lanka Cricket, among others (SBD Global).
