Chinese esports organization LNG Esports said Friday that the organization’s League of Legends Pro League (LPL) team has signed a sponsorship deal with LYNK&CO, a joint automobile brand from Geely Automobile and Volvo. LYNK&CO will also act as LNG’s official automobile partner.
Financial terms of the deal were not disclosed.
LNG Esports is owned by Chinese apparel giant Li-Ning. In China’s LPL, there is a simmering conflict between Li-Ning and LPL exclusive apparel sponsor Nike. For example, the LPL staff and fans can not refer to LNG Esports as Li-Ning during the broadcast. With the relationship between Nike and LPL at the freezing point, Li-Ning’s brand identity has been promoted further in China. On Mar. 25, Nike and other Western clothing companies were hit by massive boycotts in China after they released “statements of concern” about Xinjiang labor practices. Meanwhile, Li-Ning’s stock price saw a 10.74% increase.
LYNK&CO is a fresh joint automobile brand announced in 2016 in Berlin, the first major corporation after Chinese conglomerate Geely Holdings fully acquired Ford’s Volvo Cars in 2010. In February, Geely Holdings announced that it will merge Geely Automobile and Volvo, and set up a new company by the end of 2021, according to Reuters.
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Source: https://esportsobserver.com/geely-holding-lng-esports/?utm_source=rss&utm_medium=rss&utm_campaign=geely-holding-lng-esports
