AIBA in major venture with Alisports

Deal is reported to be worth US$506 million.

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The International Boxing Association (AIBA) has announced a landmark strategic partnership with Chinese sports entity Alisports, a subsidiary of retail powerhouse Alibaba.

Following an initial memorandum of understanding, signed in January 2016, the two parties have now agreed a deal that will seek to increase global awareness of and participation in AIBA events across the world.

The joint venture will also focus on the development of commercial rights, the use of big data and technology, and in developing new e-commerce product lines.

According to a report by Yutang Sports, the agreement is worth US$506.4 million.

“The AIBA has made remarkable progress in evolving the sport recently,” said AIBA president Dr Wu.

“This joint venture with a major player in the digital world will bring efficient synergies and provide the perfect platform for the promotion of our sport.”

Alisports focuses on developing sports economies through technology, and chief executive Dazhong Zhang added: “The creation of this joint venture aims to support the continuous development of the AIBA and its competitions by bringing in our extensive expertise in internet and e-commerce.

“Our proven capacity to target hundreds of millions of clients represents an immense opportunity to promote boxing.”

The deal follows ongoing efforts from Alisports to develop sport in China. Earlier this year, it signed a major agreement with World Rugby, alongside sports and entertainment firm CSM, to grow participation of both the sevens and XVs forms of the game in the Asian nation.

506400000 More_than_USD50million

The International Boxing Association (AIBA) has announced a landmark strategic partnership with Chinese sports entity Alisports, a subsidiary of retail powerhouse Alibaba.

Following an initial memorandum of understanding, signed in January 2016, the two parties have now agreed a deal that will seek to increase global awareness of and participation in AIBA events across the world.

The joint venture will also focus on the development of commercial rights, the use of big data and technology, and in developing new e-commerce product lines.

According to a report by Yutang Sports, the agreement is worth US$506.4 million.

“The AIBA has made remarkable progress in evolving the sport recently,” said AIBA president Dr Wu.

“This joint venture with a major player in the digital world will bring efficient synergies and provide the perfect platform for the promotion of our sport.”

Alisports focuses on developing sports economies through technology, and chief executive Dazhong Zhang added: “The creation of this joint venture aims to support the continuous development of the AIBA and its competitions by bringing in our extensive expertise in internet and e-commerce.

“Our proven capacity to target hundreds of millions of clients represents an immense opportunity to promote boxing.”

The deal follows ongoing efforts from Alisports to develop sport in China. Earlier this year, it signed a major agreement with World Rugby, alongside sports and entertainment firm CSM, to grow participation of both the sevens and XVs forms of the game in the Asian nation.