The third week of May had motor sports news with plenty of football, soccer and a media deal.
Formula One's initial public offering is set for June in Singapore and could raise some $2.5 billion; one of the largest flotations this year .
Formula One’s majority shareholder, CVC Capital Partners, has reduced its share of the company by selling $1.6 billion worth to a group of investors. The deal gave the buyers, BlackRock, Norges Bank Investment Management and Waddell & Reed, a 21% stake in F1. Reuters has estimated the business is worth around USD $9.1 billion.
Local media source Sky News reported that Unilever’s Jean-Marc Huet will join the F1 board as independent non-executive director. Unilever became an F1 sponsor this year in a $15 million deal that will see Rexona and Clear brand logos displayed on Lotus vehicles.
Other board members include Nestle chairman Peter Brabeck-Letmathe and representatives of F1 teams Red Bull, Ferrari and McLaren as well as FI chief executive Bernie Ecclestone.
In football news, global sportswear maker Nike has extended its relations with the Asian Football Confederation and will become an official partner.
The agreement will touch on all AFC national competitions, including the AFC Asian Cup - Asia's top sporting event - as well as the qualifying tournaments for the 2014 FIFA World Cup and 2016
Olympic Games and the AFC Club programme, which includes the fast-growing AFC Champions League.
The Oregon-based company is the leading designer, marketer and distributor of sports clothing and equipment.
The new Adidas basketball shoes are taking to the skies. The sportswear company introduced its new brand of Crazy Light 2 shoes by tying them to balloons and floating them over Beijing in a bid to show how light they are.
The balloons were tracked by GPS and fans who recovered them were entitled to a free pair. Chinese basketball players Zhang Qingpeng and Meng Duo appeared as spokespersons in the launch.
In soccer news, Barclays Premier League club Queens Park Rangers has extended its sponsorship deal with AirAsia. A sharing arrangement with Malaysia Airlines was called off earlier this month.
The Business Times reports the new deal – worth RM12.393 million – will make AirAsia the club’s official playing kit sponsor and main club partner. The airline’s logo will be displayed on QPR’s playing kits for the rest of the season.
The week rounded off with a media deal. One World Sports has extended its role as the exclusive North American multi-platform rights holder to Asia’s top domestic soccer leagues.
Under the terms of a deal with World Sport Group, the 24-7 English-language broadcaster of Asian sports will air games from Japan’s J. League, the Korea Professional Football League (K-League) and the Chinese Football Association Super League for the next three years.
Each weekend, OWS will feature three matches from the J. League, two from the CSL and one from the K-League, adding to its current weekly coverage of two games from the Australia’s A-League.
www.sportsfestivalasia.com
Formula One's initial public offering is set for June in Singapore and could raise some $2.5 billion; one of the largest flotations this year .
Formula One’s majority shareholder, CVC Capital Partners, has reduced its share of the company by selling $1.6 billion worth to a group of investors. The deal gave the buyers, BlackRock, Norges Bank Investment Management and Waddell & Reed, a 21% stake in F1. Reuters has estimated the business is worth around USD $9.1 billion.
Local media source Sky News reported that Unilever’s Jean-Marc Huet will join the F1 board as independent non-executive director. Unilever became an F1 sponsor this year in a $15 million deal that will see Rexona and Clear brand logos displayed on Lotus vehicles.
Other board members include Nestle chairman Peter Brabeck-Letmathe and representatives of F1 teams Red Bull, Ferrari and McLaren as well as FI chief executive Bernie Ecclestone.
In football news, global sportswear maker Nike has extended its relations with the Asian Football Confederation and will become an official partner.
The agreement will touch on all AFC national competitions, including the AFC Asian Cup - Asia's top sporting event - as well as the qualifying tournaments for the 2014 FIFA World Cup and 2016
Olympic Games and the AFC Club programme, which includes the fast-growing AFC Champions League.
The Oregon-based company is the leading designer, marketer and distributor of sports clothing and equipment.
The new Adidas basketball shoes are taking to the skies. The sportswear company introduced its new brand of Crazy Light 2 shoes by tying them to balloons and floating them over Beijing in a bid to show how light they are.
The balloons were tracked by GPS and fans who recovered them were entitled to a free pair. Chinese basketball players Zhang Qingpeng and Meng Duo appeared as spokespersons in the launch.
In soccer news, Barclays Premier League club Queens Park Rangers has extended its sponsorship deal with AirAsia. A sharing arrangement with Malaysia Airlines was called off earlier this month.
The Business Times reports the new deal – worth RM12.393 million – will make AirAsia the club’s official playing kit sponsor and main club partner. The airline’s logo will be displayed on QPR’s playing kits for the rest of the season.
The week rounded off with a media deal. One World Sports has extended its role as the exclusive North American multi-platform rights holder to Asia’s top domestic soccer leagues.
Under the terms of a deal with World Sport Group, the 24-7 English-language broadcaster of Asian sports will air games from Japan’s J. League, the Korea Professional Football League (K-League) and the Chinese Football Association Super League for the next three years.
Each weekend, OWS will feature three matches from the J. League, two from the CSL and one from the K-League, adding to its current weekly coverage of two games from the Australia’s A-League.
www.sportsfestivalasia.com
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