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AIBA and ALISPORTS announce creation of a Joint Venture in principle to focus on commercial promotion of AIBA Boxing around the world

Publish date:2016-7-27   Pageview: 1087


Photo: Dr. Ching Kuo-Wu, AIBA President and Mr. Dazhong Zhang, CEO of Alisports

   Alisports, a joint venture led by Alibaba Group and Yunfeng Capital, is dedicated to building the sports economy and developing the business of sports both online and offline, striving to add value to all future AIBA boxing events.

   Dazhong Zhang, CEO of Alisports, added; “The creation of this Joint Venture aims to support the continuous development of 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. We are confident we can achieve global progress and advancement of the sport of boxing in the world through this unparalleled collaboration.”

    Established in 2010, Yunfeng Capital is a private equity firm co-founded by Mr. Jack Ma, Chairman of Alibaba Group and Mr. David Yu, the founder of Target Media. Yunfeng Capital is the only private equity firm in Greater China that is built upon the collective efforts and networks of the most successful entrepreneurs and influential business leaders. Yunfeng Capital’s focus sectors include technology, e-commerce, media & entertainment, logistics, and healthcare, managing over US$6 billion of private equity funds for global sovereign wealth funds, endowment funds, family offices and large corporations.

   Both entities will continue to work together in the coming weeks to realise the Joint Venture for the benefit of AIBA boxing.

   This article is a reprint from AIBA News.