The Chinese Super League could be the next big thing among global football fanatics, insiders say. (Photo : Reuters)
Market insiders claim that the Chinese Football Association Super League (CSL), which is celebrating its 10th anniversary, could become the world's largest sports company in terms of valuation.
According to Guangzhou's 21st Century Business Review, the CSL is poised for incorporation and may reach $1.55 billion in valuation.
Last year, the league posted a whopping revenue of $69 million. It also boasts good prospects due to increasing royalties and audiences, and rising sales performance of its derivative products.
In fact, the league that was founded in 2005 has received $93.6 million from leading insurer Ping An Group after inking a four-year sponsorship deal.
To advance further development, the league will be turned into a corporation. According to a reform program unveiled at a meeting convened by the country's General Administration of Sport on Aug. 17, the CSL will take over control from the China Football Association.
The report added that the association is currently the largest shareholder with a 36-percent stake.
The China Football Association has earned the ire of many of the CSL's 16 member clubs, who each has a 4-percent stake. They are complaining about the dominant role of the association and are demanding for greater authority and more autonomy in the league's operations.
For the member clubs, such transformation--making the league a corporation--will be essential for the league's development.
According to the news report, Wang Jianlin of the realty giant Wanda Group has emerge as the frontrunner in the list of potential buyers of the association's large stake. He is China's richest man for this year, Forbes reported.
