AIBA Brings Alisports Into Its Corner

(ATR) The International Boxing Association and Alisports - subsidiary of the Alibaba Group - have reached an agreement to help develop and promote boxing globally.

"AIBA has made significant strides in all areas in recent months and the commercial partnership strategy we are currently growing and consolidating is an essential aspect of our global approach for the next Olympic cycle," AIBA president C.K. Wu said in a statement.

The partnership is in response to a memorandum of understanding signed in Jan. 2016 to invest in AIBA competitions as well as create an internet TV channel for the sport. According to the agreement, Alisports will not only market boxing around the world but "develop and operate boxing e-sports" and make major contributions to merchandising concepts as well.

In a similar agreement reached in June 2016, AIBA is also one of the 27 international federations collaborating on content for the Olympic Channel.

The agreement with Alisports will go into effect beginning Jan. 1, 2018 ahead of the Boxing World Series, which will be the first to receive the full effects of the partnership.

"We will be bringing our expertise to promote boxing around the world, and look forward to taking the prestigious AIBA brand and its biggest boxing tournaments to the next level in terms of their exposure and marketability," Alisports Founder and CEO Dazhong Zhang said in a statement.

Written by Courtney Colquitt

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