China Generating Millions In Euro 2020 Sponsorships

    • Alipay agreed to an eight-year partnership in 2018 to include the 2020 and 2024 Euro championships.
    • UEFA says it cannot disclose the cost of partnership with Chinese brands.

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The month-long Euro 2020 championship continues over the next couple of weeks before the final takes place on July 11.

You won’t see anyone in a Chinese jersey on-field, but China is heavily involved. 

Chinese businesses are capitalizing on Euro 2020, attracting new customers and gaining exposure in existing markets.

  • Alibaba-affiliate Alipay agreed in 2018 to an eight-year partnership with UEFA that’s worth about $238 million.
  • By 2025, home appliance company Hisense, another sponsor of this year’s tournament, hopes to generate half its revenue, a projected $23.5 billion, from overseas.

Two billion people watched the last Euro championship in 2016, and the numbers look promising this year, too.

The tournament is averaging 965,000 U.S. viewers per game, a 33% increase from five years ago. Four matches from this year’s competition have already made it to the top 10 in all-time Euro viewership.

Until China produces an international-level soccer team — which it is actively working to accomplish over the next decade — sponsoring events in other countries may be the best bet for the country’s businesses.