July 25th, Shanghai China: Following the initial MOU phase announced in January 2016 to study the development of several specific projects designed to increase global awareness of boxing and the value of all AIBA Boxing competitions, AIBA and Alisports have an agreement in principle on the creation of a Joint Venture in 2016.
AIBA – shaping tomorrow’s boxing
AIBA, the only boxing governing body recognised by the IOC and with 200 National Federations affiliated, is constantly seeking to grow the sport of boxing, whether through gender equality and pushing for increased participation of women at the Olympic Games, or the launch of professional competitions such as WSB and APB to create complete career paths for boxers. The IOC green-light on the decision to remove headguards was another recent symbol of this dynamism, along with the acceptance of pro-eligibility for the forthcoming Olympic Games.
“AIBA has made remarkable progress in evolving our sport recently, and this future joint venture with a major player in the digital world will bring efficient synergies and provide the perfect platform for the promotion of our sport and our boxers,” explained AIBA President Dr Wu.
Alisports – confirmed ambitions in sport
Alisports, a joint venture led by Alibaba Group and Yunfeng Capital, is dedicated to building the sports economy and developing the business of sports both online and offline, striving to add value to all future AIBA boxing events.
Dazhong Zhang, CEO of Alisports, added; “The creation of this Joint Venture aims to support the continuous development of AIBA and its competitions by bringing in our extensive expertise in internet and e-commerce. Our proven capacity to target hundreds of millions of clients represents an immense opportunity to promote boxing. We are confident we can achieve global progress and advancement of the sport of boxing in the world through this unparalleled collaboration.”
Established in 2010, Yunfeng Capital is a private equity firm co-founded by Mr. Jack Ma, Chairman of Alibaba Group and Mr. David Yu, the founder of Target Media. Yunfeng Capital is the only private equity firm in Greater China that is built upon the collective efforts and networks of the most successful entrepreneurs and influential business leaders. Yunfeng Capital's focus sectors include technology, e-commerce, media & entertainment, logistics, and healthcare, managing over US$6 billion of private equity funds for global sovereign wealth funds, endowment funds, family offices and large corporations.
Both entities will continue to work together in the coming weeks to realise the Joint Venture for the benefit of AIBA boxing.