PGA Tour-China partners with Shankai Sports
By Shantanu Srivastav | December 7, 2017
PGA Tour-China has partnered with Shankai Sports in a 20-year deal to leverage China’s growing sports market.
As part of the alliance, Shankai Sports will manage the operations of PGA Tour-China’s new series which began in2014. PGA Tour organised 12 events in its first two years and 13 in 2016. The series will resume with qualifying schools next month after a year’s hiatus.
Shankai Sports already boasts of managing operations for IOC, FIFA and UEFA.
Greg Gilligan, PGA Tour vice president and Greater China managing director said: “PGA Tour-China is truly thrilled to be partnering with Shankai Sports on the PGA Tour Series-China. Shankai is a world-class organisation with great experience of connecting the expectations of international sport bodies with an understanding of the Chinese market.
“With Shankai as our new partner, PGA Tour-China is proud to say that the series is back – bigger and better. It will have more tournaments and significantly more prize money.”
David Han, CEO of Yao Capital, added: “Yao Capital is one of the leading private equity investment firms focused on sports-themed opportunities in China and overseas with a China angle.
“Shankai Sports, especially following its partnership with PGA Tour-China, is one of the leaders in the Chinese sports industry and we’re excited to back a company that’s looking to help grow the sport in China and propel local athletes onto the world stage.”
Jianguang Li, partner at IDG Capital said: “IDG Capital is very happy to support Shankai Sports and its new ventures including PGA Tour China, which represents one of the world’s great sports brands.
“As investors, we see the huge potential of sport in China for years to come, and are very happy to support Shankai and PGA Tour-China during a time of exciting growth.”