Chinese company spends big on Chinese tennis
Chinese sportswear brand Erke will sponsor the Shanghai Masters tennis tournament for the next five years in a deal worth US$15 million.
The company has agreed a deal with the Shanghai Masters Series Organisation Committee that sees it named official apparel supplier for the tournament, one of nine ATP 1000 events. The ATP 1000 events are the most valuable on the ATP World Tour other than the four Grand Slams. The Shanghai edition takes place for the first time later this year, and is Asia's most high-profile tennis tournament.
Erke will invest US$3 million per year in its sponsorship of the tournament.
The company has come to international attention in recent weeks with its sponsorship of the North Korea soccer team, which has qualified for the Fifa World Cup for the first time in 34 years.
Contract Details
- Length of contract: 5 years
- Annualised value: US$3 million
- Overall value: US$15 million
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