China National Sports Group and Singapore’s White Group signed a strategic cooperation deal in Beijing on November 7, 2023, focusing on acquiring the intellectual property (IP) of international sports events and establishing global or Asia-Pacific commercial rights.
The collaboration aims to integrate sports formats with event IPs, and create international-level stadiums, and support facilities. The China-Singapore International Sports Industry Fund, with an initial investment of RMB 1.4 billion, will facilitate this partnership. White Group’s CEO, Peh Chin Hua, emphasized the spirit of sports as a unifying force.
The collaboration, driven by market mechanisms and laws, aims to be a pillar in the new China-Singapore International Sports Industry Fund, leveraging the potential of China’s sports industry. Gu Haoning, Chairman of China National Sports Group, highlighted the sports industry’s expansive market and its ability to transcend boundaries.
The agreement outlines cooperation in sports event investment, venue construction, sports technology, international sports funds, and sports derivatives, with plans to operate top international event IPs and build a China-Singapore International Sports City in the Guangdong-Hong Kong-Macao Greater Bay Area.
Asia is a massive consumer market with a large potential for sports and entertainment.
