 |
Tom.com Wins Rights to Screen Chinese Basketball Games
The HK-based Tom.com vowed to become the biggest sports promoter in the country after winning the commercial rights of China Basketball Association (CBA) League A Games and forming a strategic partnership with China Sports Industry Co Ltd (CSIC) on Wednesday.
According to Tom.com, the State Sport General Administration (SSGA) notified Tom.com's subsidiary YCP Advertising Company that it would be given the commercial right of CBA games from 2001 to 2003.
The Guangzhou-based YCP will invest US$5 million in CBA games together with its partner Starway Sport and Culture Co Ltd annually into the CBA games.
"It will be a good opportunity for YCP to maintain its advantages in the sports promotion sector and Tom's cross-media platform will help consolidate our position in the market," said Sing Wang, CEO of Tom.com.
The deal gives YCP exclusive commercial rights that include title sponsorship, advertising, TV broadcasting, official sponsorship, usage of CBA logos and famous basketball stars.
YCP will also be responsible for the promotion of the official website of CBA, club officials and players, and merchandise rights.
CBA-sponsored games are among the most popular sports events in the country. More than 170 games were played in the 2000 league and attracted more than 450 million viewers of TV broadcasting.
YCP, the largest sports promotion business on the Chinese mainland, also has the franchise of China Volleyball Association from 1999 to 2004 and the college football league from 2000 to 2005.
Meanwhile, Tom.com also reconciled with CSIC - its major rival for CBA rights - to set up a joint venture with an initial investment of US$1 million to tap the potential of the basketball promotion market and the 2008 Olympic Games to be held in Beijing.
"The mainland sports development market has been a core business for Tom.com and our partnership with CSIC, the flagship company of SSGA, will open new areas for us," said Sing Wang.
Although CSIC lost the commercial rights for CBA to Tom.com, their close relationship with SSGA and experience in the promotion of Chinese sports stars are believed to bring much help to Tom.com.
The proposed joint venture, which may begin operations in the fourth quarter of this year, will be mainly involved in sports stars promotion, TV broadcasting and news dissemination for the 2008 Olympics.
In This Section
|