Guangzhou R&F, VfB Stuttgart sign deal to commercialize soccer

Chinese Super League side Guangzhou R&F signed a strategic cooperation agreement with the Bundesliga club VfB Stuttgart on Wednesday in Guangzhou, the capital of Guangdong province, to jointly cultivate the soccer commercial market.

According to the five-year agreement, both sides will cooperate in areas of commercial development, international soccer fans membership, soccer commercial research, youth training and E-sports.

"As part of efforts to facilitate cultural and sport cooperation between China and Germany, we will also join hands to organize a series of soccer games for young players from both countries," said Huang Shenghua, deputy chairman of Guangzhou R&F.

The agreement with the German side came after Guangzhou R&F signed similar cooperation agreements with the British Premier League side Chelsea and Nertherland club Ajax in the previous years.

"We are determined to develop into an international club both in the areas of youth training and commercial market," said Huang.

Thomas Hitzlsperger, academy director of VfB Stuttgart, also a retired international player, said the agreement with the Chinese soccer club would help cultivate the potential soccer commercial market in China.

"We are very delighted to enter into the Chinese commercial market, which is of great importance for us to maintaining a sustainable business development," he said.