Ti’ao Power, an events broadcast firm in China, has signed a strategic partnership agreement with LeSports, according to an article by China Daily. The agreement gives LeSports, the sports arm of LeEco Holdings Ltd., exclusive global broadcast rights for the next five seasons of the Chinese Super League.
The deal is reportedly worth 2.7 billion yuan ($414 million).
Latest broadcast technologies such as virtual reality will be used by LeSports to give overseas viewers a memorable viewing experience.
The initiative is also expected to draw more overseas viewers for the Chinese Super League, which is already considered as the biggest soccer tournament in Asia in terms of viewer numbers.
"LeEco will provide the CSL with cutting-edge broadcasting technologies to bring the event to overseas audiences," said Lei Zhenjian, LeSports' CEO.
"VR technology is likely to become the norm for soccer broadcasts in the future, with audiences able to watch live games using VR goggles--an experience which will make them feel as if they are standing on the field itself," said Zhao Jun, Ti'ao Power's general manager, in an interview with China Daily.
Prior to the agreement with LeSports, Ti'ao Power signed an 8-billion-yuan deal with CSL to broadcast China's top soccer event for the period. However, the new agreement states that LeSports' websites and mobile applications will show CSL games exclusively.
Overall, LeSports will stream 240 CSL matches live in several countries including China, Canada, the United States, and most of Southeast Asia for the upcoming new season.
Analysts believe that Ti'ao Power and LeSports' agreement is expected to draw global awareness of CSL and China's overall sports market.
"These huge investments being made in soccer are drawing attention to the sport, while promoting its supporting brands," said Tan Jianxang, a sports sociology professor from South China Normal University.
"But the price (of the media rights) has far exceeded the value of the league's quality, so investors should also focus on more practical areas, such as youth development," Tan added.
As for cable TV, several local televisions will broadcast CSL games this year. Meanwhile, China Central Television is currently negotiating a nationwide broadcasting deal with Ti'ao Power.