China: Brewery sponsors China Football Super League
Shenzhen-based beer brewery Kingway agreed to sponsor the Chinese Football Super League on Thursday, just two days before the 2007 season kicks off, China Daily reported March 1.
The Hong Kong listed state-owned enterprise promised to pay some 36 million yuan (4.5 US million) to have its name in the title of China's premier football competition.
The one-year contract between Kingway and the Chinese Football Association is expected to be officially signed on Friday afternoon. The brewery will have the option of extending the contract when the current one expires next year.
Kingway sponsored Chinese Football Super League side Shenzhen last year for 12.5 million yuan (more than 1.5 million USD dollars). But the contract expired unexpectedly after conflict between the brewery and team led Kingway to cut 4 million yuan (US$500,000) from the original fee.
The company is the third to sponsor the Chinese Football Super League, after German electronics giant Siemens and internet phone maker iPhox.
Siemens paid 8 million Euro to sponsor the Chinese Football Super League when it debuted in 2004, but the fee has plummeted as the league has become associated with scandals.
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