Home
News
In Focus
Business
Metro
Nation
World
Sports
Feature
Opinion
View more »Opinion Columns
Wan LixinOpinion deputy editor of Shanghai Daily
Restaurants get off to a quick start thanks to game-changing policies
High service charges on event ticket refunds call for further regulation
Sunday
- Subscribe
Related News
Isinbayeva seals rich Li Ning deal
Source: Agencies |
February 12, 2009, Thursday
|
Print Edition
Print Edition
RUSSIAN Olympic champion and pole vault world record holder Yelena Isinbayeva has agreed a multi million-dollar contract with China's largest sportswear retailer Li Ning.
The agreement, worth US$1.5 million annually for five years according to a person with knowledge of the offer, is significant because of the amount of money and the entry of a Chinese company into the athletics marketing world with a high-profile athlete.
"There is no athlete on the track circuit that earns that kind of money," said a person familiar with the negotiations.
That includes the base contract for Jamaican double sprint world record holder Usain Bolt, he said. "It is out of synch in regards to the track market."
Wang Shiyong of Li Ning's branding department said, however, that no deal had been finalized. "I cannot confirm it at this moment," he said.
"It is under negotiation. We will announce it later when we get to an agreement."
Isinbayeva's agent, Daniel Wessfeldt, said that he could not "comment at this point."
Bonuses for world records, world and Olympic championships could add to Isinbayeva's earnings, experts said.
Isinbayeva, the IAAF female athlete of the year, has been under contract to Adidas, the world's second-largest sports goods maker.
The world record holder is set to begin her indoor season this weekend at Donetsk, Ukraine, which would be her first opportunity to wear her new company's attire at a meet.
Li Ning was founded by the 1984 Olympic triple gymnastics gold medalist who last August lit the cauldron at the opening ceremony of the Beijing Games. It has around 10 percent of the Chinese market.
While Isinbayeva is its first high-profile signee, the firm has deals with National Basketball Association players Shaquille O'Neal of the Phoenix Suns and Baron Davis of the Los Angeles Clippers, according to O'Neal's NBA biography and a Li Ning news release about Davis.
The agreement, worth US$1.5 million annually for five years according to a person with knowledge of the offer, is significant because of the amount of money and the entry of a Chinese company into the athletics marketing world with a high-profile athlete.
"There is no athlete on the track circuit that earns that kind of money," said a person familiar with the negotiations.
That includes the base contract for Jamaican double sprint world record holder Usain Bolt, he said. "It is out of synch in regards to the track market."
Wang Shiyong of Li Ning's branding department said, however, that no deal had been finalized. "I cannot confirm it at this moment," he said.
"It is under negotiation. We will announce it later when we get to an agreement."
Isinbayeva's agent, Daniel Wessfeldt, said that he could not "comment at this point."
Bonuses for world records, world and Olympic championships could add to Isinbayeva's earnings, experts said.
Isinbayeva, the IAAF female athlete of the year, has been under contract to Adidas, the world's second-largest sports goods maker.
The world record holder is set to begin her indoor season this weekend at Donetsk, Ukraine, which would be her first opportunity to wear her new company's attire at a meet.
Li Ning was founded by the 1984 Olympic triple gymnastics gold medalist who last August lit the cauldron at the opening ceremony of the Beijing Games. It has around 10 percent of the Chinese market.
While Isinbayeva is its first high-profile signee, the firm has deals with National Basketball Association players Shaquille O'Neal of the Phoenix Suns and Baron Davis of the Los Angeles Clippers, according to O'Neal's NBA biography and a Li Ning news release about Davis.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
