Friday, March 02, 2007

Kingway Brewery sponsors China Super League

Shenzhen-based beer brewery Kingway announced its agreement to sponsor the China Super League just two days before the 2007 season kicked off. Sina.com reported that the Hong Kong listed state-owned enterprise promised to pay some 36 million yuan (US$4.5 million) to have its name in the title of China's premier football competition and will have the option of extending the contract when the current one expires next year. The company is the third to sponsor the Super League, after German electronics giant Siemens (which paid 8 million Euro for the 2004 season) and internet phone maker iPhox.

According to China Daily, Kingway sponsored Super League club Shenzhen last year for 12.5 million yuan (more than US$1.5 million) but the contract expired unexpectedly after conflict between the brewery and team led Kingway to cut 4 million yuan (US$500,000) from the original fee.

No comments: