QSL Sports, the company led by Chinese sports investor Kenny Huang Jianhua, will invest millions in Chinese baseball over the next 15 years.
What was originally announced as a ten-year deal will now last for 15, with the previously reported investment of US$500,000 per year expected to continue for that period. Huang, who recently purchased a minority share in National Basketball Association franchise the Cleveland Cavaliers, will invest the money in the China Youth Baseball League. It will pay for equipment provision, coach training, facility construction, summer camps and international exchange programmes as well as competitions for various age groups.
“I hope we could set a solid foundation for Chinese baseball and produce a number of elite players – super heroes like (Yankees pitcher) Wang Chien-Ming and (NBA player) Yao Ming,” said Huang on signing the deal with the Chinese Baseball Association (CBA). “It is not a short-term investment. In the first one or two years we will just work on the basics with confidence and patience. We can’t expect baseball to grow as quickly as basketball.”
CBA secretary general Shen Wei claims there are 100,000 people playing regular baseball in the country, which has a population of 1.3 billion.
Huang added: “The decision to invest in China’s sports industry by QSL Sports Limited, especially in baseball which is a very important part with great potential in China’s sports, demonstrates our full confidence in the Chinese sports industry.”
15 years 500000 7500000