The Chinese Basketball Association (CBA) has renewed its apparel deal with Li-Ning.
The Chinese sportswear brand, which first signed with the league in 2012, will continue to supply footwear, clothing and protective equipment to all 20 CBA teams. The extension was announced at an event in Hong Kong attended by Li-Ning founder and executive chairman Li Ning and Yao Ming, the former National Basketball Association (NBA) superstar who is now chairman of the CBA.
Both parties also pledged to collaborate on the further promotion and professional development of the league and to pursue a more stable and expanded long-term partnership.
The financial terms of the renewal were not officially released, but reports on Tencent's QQ service suggest that the deal will be worth around one billion yuan (US$150 million) over five years.
Li-Ning has also agreed a new deal with the Women's Chinese Basketball Association (WCBA), the terms of which were not disclosed.