China enters global football

Wanda Group of China’s richest man Wang Jianlin is the first FIFA sponsor under the new head of world football.

For the first time in the history of world football, a company from China has become one of the main sponsors of the International Football Federation (FIFA). The Wanda Group, backed by the country’s wealthiest resident Wang Jianlin, will be among the top partners of world football until 2030. Although the financial details of the contract were not disclosed, according to the BBC it is one of the most lucrative sports deals in history, worth hundreds of millions of dollars. It is also the first sponsor under new FIFA president Gianni Infantino. His task is to restore the reputation of an organization plagued by corruption, which under outgoing Sepp Blatter lost several major partners such as Castrol, Continental, and Johnson & Johnson.

New boss, new wind
Last week, the organization announced that the departure of sponsors and legal costs from several corruption scandals involving the president, vice-presidents, and the general secretary caused FIFA to post a record loss of 122 million dollars. For the first time since 2002, one of the world’s financially strongest organizations ended up in the red. “FIFA has badly damaged its reputation over the last two years. That opened the door for new companies to link their brand with world football,” sports analyst and football agent Jozef Tokos told the Economic Daily. The new president Gianni Infantino, who for many years successfully served as general secretary of the Union of European Football Associations (UEFA), is expected to bring fresh air with new sponsors and a new direction to world football. Securing Wanda Group as a partner can be considered the first major success for the Swiss in his new role as FIFA chief. “First and foremost, FIFA will now act transparently and avoid any wrongdoing,” Tokos stated.

China’s influence grows
Wang Jianlin’s name has been linked to top-tier European club football for over a year now. His Wanda Group, active in many sectors – from real estate to retail, sports, and film – became a minority shareholder in a European football club. In February last year, it acquired a 20% stake in the previous year’s Champions League finalist Atlético Madrid. Wang spoke about entering world football at a Monday press conference in Beijing. “Two or three years ago, Chinese and Asian companies had no chance to sponsor FIFA, even if they wanted to. But since some Western companies have withdrawn, we got the opportunity,” Wang said. According to him, at least two more Chinese companies will enter partnerships with FIFA by the end of this year. “Then we can join forces to promote China’s interests in world football,” the Wanda Group chief declared boldly. (...)