Sticky Wickets, But What A FuturePete Engardio
Opportunities for selling sports in Asia seem endless
For the organizers of China's new pro soccer league, almost everything was in order: There were 30,000 noisy fans and live television coverage. The Beijing players in green jerseys and shoes supplied by their sponsor, Nike, were raring to go against a Guangzhou team decked out in Reeboks. And there were a bunch of billboards bought by advertisers. But amid the signs for Sony, Olympus, and San Miguel beer were big, white gaps where the red-and-white Marlboro logos had been. Earlier this year, Beijing ruled that the ads may violate China's new ban on tobacco advertising. That forced Philip Morris Cos., which was paying an estimated $2 million annually as the league's chief sponsor, to pull out.
To continue reading this article you must be a Bloomberg Professional Service Subscriber.
If you believe that you may have received this message in error please let us know.
- One of the World’s Hottest Stocks Is Now Tumbling
- This Rare Bear Who Called the Crash Warns Housing Is Too Hot Again
- Recent ‘Odd’ Market Moves May Be a Warning Sign for Stocks
- The Global Economy Is Doing Just Fine, But the Davos Elite Is Worried
- U.S. Stocks, Treasuries Rise as Greenback Weakens: Markets Wrap