On October 5, 2019, NBA Rockets general manager Morey sent a tweet. For a time, Morey set off a hurricane with one's own strength, causing the NBA to be almost suspended in China. Chinese Netizens commented that this may be the "most expensive" tweet in the history: a tweet, the Rockets lost hundreds of millions. The support of NBA president Adam Shawhua may have caused the NBA to lose more.
On the afternoon of October 8, Beijing time, the CCTV Sports Channel of the Central Radio and Television General Administration issued a statement, to suspend the current broadcast arrangements for the NBA preseason (China), and immediately investigate all cooperation and communication involving the NBA.
In addition, there are more than five domestic media and platforms such as Tencent Sports, Tigers, Live Broadcasting, and Slam Dunk magazines, which announced the suspension or termination of the broadcast and coverage of the Rockets.
In July of this year, Tencent Sports has renewed its contract with the NBA. It is reported that the amount of this renewal is 5 billion US dollars for 5 years, estimated at the current exchange rate, about 100.7 billion yuan. If the cost of broadcasting rights such as TV and short video is superimposed, the NBA's revenue in the Chinese market will reach 400 million US dollars a year.
This year, Tencent and the NBA announced a new contract until the summer of 2025. It was reported that the contract renewal amount was as high as 1.5 billion US dollars (about 10.3 billion yuan). On average, it is around RMB 2 billion a year.
A number of companies decided to terminate cooperation with the NBA: vivo, Tencent Sports, Anta Sports, Mi Wei Video, Dicos Dicos, Luckincoffee, and Master Kong Ice Tea. As of now, at least nine of the 25 official partners announced by NBA China have publicly announced their termination of cooperation.
How much will the Rockets lose with the withdrawal of these sponsors?
"There is no way to find specific information about these contracts in the open channel, but from the figures of 17 years ago, each company will be in the millions.
In 2002, after Yao Ming joined the Rockets, Yanjing Beer took the lead in signing a six-year, $6 million sponsorship contract with the Rockets. "
Before 2017, the Rockets' Chinese sponsorship brands were maintained between 4 and 8 years. The domestic brands such as Peak, Founder Group, Anta and Kunlun Lubricants have sponsored the Rockets. The brand sponsors from China once occupied the Rockets. The team sponsors 8%-10% of total revenue.
After 2017, the Rockets will accelerate the development of the Chinese market, hoping to increase the number of Chinese sponsors to 12, and increase the proportion of total revenue to 20%.
According to rough estimates, the loss of the Chinese market, the Rockets will lose 400 million yuan in losses each year. As there will be huge losses, NBA is trying to repair the relationship through Yaoming.
What's more important, money or freedom？
On the afternoon of October 8, Beijing time, the CCTV Sports Channel of the Central Radio and Television General Administration issued a statement, to suspend the current broadcast arrangements for the NBA preseason (China), and immediately investigate all cooperation and communication involving the NBA.
In addition, there are more than five domestic media and platforms such as Tencent Sports, Tigers, Live Broadcasting, and Slam Dunk magazines, which announced the suspension or termination of the broadcast and coverage of the Rockets.
In July of this year, Tencent Sports has renewed its contract with the NBA. It is reported that the amount of this renewal is 5 billion US dollars for 5 years, estimated at the current exchange rate, about 100.7 billion yuan. If the cost of broadcasting rights such as TV and short video is superimposed, the NBA's revenue in the Chinese market will reach 400 million US dollars a year.
This year, Tencent and the NBA announced a new contract until the summer of 2025. It was reported that the contract renewal amount was as high as 1.5 billion US dollars (about 10.3 billion yuan). On average, it is around RMB 2 billion a year.
A number of companies decided to terminate cooperation with the NBA: vivo, Tencent Sports, Anta Sports, Mi Wei Video, Dicos Dicos, Luckincoffee, and Master Kong Ice Tea. As of now, at least nine of the 25 official partners announced by NBA China have publicly announced their termination of cooperation.
How much will the Rockets lose with the withdrawal of these sponsors?
"There is no way to find specific information about these contracts in the open channel, but from the figures of 17 years ago, each company will be in the millions.
In 2002, after Yao Ming joined the Rockets, Yanjing Beer took the lead in signing a six-year, $6 million sponsorship contract with the Rockets. "
Before 2017, the Rockets' Chinese sponsorship brands were maintained between 4 and 8 years. The domestic brands such as Peak, Founder Group, Anta and Kunlun Lubricants have sponsored the Rockets. The brand sponsors from China once occupied the Rockets. The team sponsors 8%-10% of total revenue.
After 2017, the Rockets will accelerate the development of the Chinese market, hoping to increase the number of Chinese sponsors to 12, and increase the proportion of total revenue to 20%.
According to rough estimates, the loss of the Chinese market, the Rockets will lose 400 million yuan in losses each year. As there will be huge losses, NBA is trying to repair the relationship through Yaoming.
What's more important, money or freedom？
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