China's LeSports Said to Default on Major Soccer TV Contract
- Billionaire Jia Yueting’s company had Asian soccer agreement
- Default first sign of crack in explosive China rights market
during the AFC Asian Champions League match between the Western Sydney Wanderers and the Urawa Red Diamonds at Campbelltown Sports Stadium on February 21, 2017 in Sydney, Australia.
Photographer: Matt King/Getty ImagesThis article is for subscribers only.
Chinese sports media company LeSports has been stripped of its rights to broadcast Asian Football Confederation soccer games after defaulting on payments, according to people familiar with the matter.
The company, a subsidiary of billionaire Jia Yueting’s smartphone-to-taxi service business LeEco, missed a payment in January and another deadline to pay a portion of its $100 million contract by last week, said the people, who asked not to be identified because the matter is subject to a lawsuit.