Alibaba’s Olympic Sponsorship Expands Jack Ma, China’s Influence in Sports

Alibaba, the Chinese e-commerce behemoth, will spend about $600 million to sponsor the next six Olympic Games through 2028. The partnership was launched at the World Economic Forum in Davos by Alibaba founder Jack Ma and International Olympic Committee President Thomas Bach, the partnership. In addition to providing cloud services and customizing a television channel for Chinese viewers, Alibaba will also create an e-commerce platform for selling licensed Olympic goods. The sponsorship comes at a time of rising Chinese interest and investment in sports, particularly soccer. Companies including Alibaba are investing in clubs that are “offering European stars jaw-dropping sums of money to migrate,” reports Daniel Kleinman for Forbes. Indeed, the company is reportedly also eyeing a sponsorship deal with FIFA for the World Cup. The global sporting industry is estimated at more than $75 billion, with soccer by far the most popular. – YaleGlobal