Home / Business

LeEco scraps deal for soccer club equity

By Ma Si and Ouyang Shijia | China Daily | Updated: 2016-10-28 08:19

Chinese technology major LeEco said on Thursday its sports unit has canceled an investment deal with a major local soccer club, after the two sides failed to reach an agreement on "core issues".

Le Sports said it had paid the sponsorship fees according to the contract, but a disagreement with Beijing Guoan soccer club on "core issues" led to the collapse of an equity partnership between the two sides.

The Beijing-based firm signed a 100-million-yuan ($14.9 million) title sponsorship deal with Beijing Guoan in January. It was also widely reported that LeEco would buy half of the club's ownership for about 2 billion yuan.

LeEco scraps deal for soccer club equity

Today's Top News

Editor's picks

Most Viewed

Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349