The Portuguese Football Federation signs strategic partnership with Weibo; Jeff Bezos, Drake, and NBA stars invest in Overtime’s US$80m funding round; the U.S. Ski & Snowboard is reuniting with Toyota as its official vehicle sponsor. For these stories and more, check out the Red Phoenix Global Sports Update:

Portuguese F.A. to Produce Weibo Content ahead of Euro 2020   

FPF is the first soccer federation to sign a strategic partnership with a Chinese social media platform (Photo credit: Weibo)

The Portuguese Football Federation (FPF) agrees to a strategic partnership with leading Chinese social media platform Weibo, to enhance its presence in China. This partnership takes place after the launch of Portugal’s official store on Alibaba T-mall at the beginning of the year. Portugal has around 20 million fans in China. The FPF will continue to reinforce the connection of the team and players by inspiring fans with new experiences and exclusive content, especially now on the road to the Euro 2020, a competition that Portugal enters as the defending champion. Last November, English top-flight team Chelsea became the first Premier League team to strike a strategic partnership with Weibo. Full Story Sports Pro Media (04/26)

Overtime Secures $80 Million From Drake, Jeff Bezos, NBA Stars, and Other Series C Investors   

The Raptors Global Ambassador Drake cheers on the team (Photo credit: Getty Images)

Digital sports media company Overtime has raised US$80 million in a Series C funding round which included the investment firm of Amazon founder Jeff Bezos, Canadian musician Drake, and more than 25 current and former National Basketball Association (NBA) players, including Devin Booker, Trae Young, and Klay Thompson. The company will use a portion of the funds to fuel its basketball league that pays 16-to-18-year-old players at least $100,000 per year. Full Story Sporttechie  (04/23)

U.S. Ski & Snowboard Brings back Toyota as Vehicle Sponsor

The U.S. Ski & Snowboard teams (Photo credit: U.S. Ski & Snowboard)

U.S. Ski & Snowboard has signed a multi-year partnership with car manufacturer Toyota through the 2026 Winter Olympics after a two-year hiatus between the two parties. As part of the agreement, which begins on August 1, Toyota will be designated the official mobility partner of the Olympic national governing body. Also, Toyota will serve as the title sponsor of the Toyota US Grand Prix series, the Toyota U.S. Alpine Championships, the Toyota U.S. Freestyle Championships, and the presenting sponsor of the “Visa Big Air Presented by Toyota” events. Toyota returns as the official vehicle of U.S. Ski & Snowboard following the NGB’s two-year partnership with Land Rover. Full Story Sports Business Journal (04/26)

Suzuka Extends F1 Deal, Honda to Sponsor 2021 Japanese G.P.   

Japanese Grand Prix (Photo credit: XPB Images)

The Japanese Grand Prix will remain at Suzuka until at least the 2024 season after the circuit agreed on a new deal with Formula 1. Japanese automotive giant Honda, which owns the circuit’s operator Mobilityland, will make its final appearance as an F1 engine constructor at the venue in the Japanese Grand Prix later this year before leaving the season’s series. Honda previously title sponsored the 2018 Japanese G.P., which marked a significant moment for the company. In October, Honda said it would conclude its participation in the championship at the end of the 2021 season, leaving the Red Bull Racing and AlphaTauri teams searching for a new power unit supplier. Full Story Honda.Racing (04/26)

Zhibo.tv Extends China League One Broadcast Rights        

China League One (Photo Credit: lalasport)

Chinese streaming platform China Sports, also known as Zhibo. tv, has renewed its deal for rights to the country’s second-tier football division, China League One, for the 2021 season. The agreement with the Chinese Football Association is an extension of last year’s exclusive rights deal that saw the platform stream over 141 matches to fans in partnership with Kuaishou. Zhibo.tv will provide unique programs and documentaries while bringing fans a more immersive experience. Full Story Sports Business (04/26)

Victor and Yonex Named Official Equipment Partners for BWF Major Championships   

Anders Antonsen plays against Kento Momota in 2019 (Photo Credit: Badmintonphoto)

The Badminton World Federation (BWF) announced its official equipment partners for BWF’s major events during the 2022 to 2025 cycle in a deal arranged by its long-term commercial partner Infront Sports and Media.  Taipei-based badminton equipment company Victor has been awarded the rights for the BWF Thomas and Uber Cup Finals 2022 in Thailand and China in 2024 and the BWF Sudirman Cup 2023 in India and China in 2025. Japanese sports equipment manufacturing company Yonex will continue as equipment supplier of the 2022 BWF World Championships in Japan and the respective 2023 and 2025 editions in Denmark and France. Full Story BWF (04/22)

Rugby Australia Seeks New Jersey Sponsor

The Australia national rugby union team (Photo Credit: Getty Images)

Rugby Australia will return to the market to sell its primary jersey sponsorship after steel and mining conglomerate GFG Alliance pulled out of an advanced-stage agreement. It was reported that a deal was close to being announced for the governing body’s most valuable sponsorship asset, the men’s national team front-of-shirt rights. However, the GFG Alliance agreement was reportedly terminated when the company’s main backer Greensill Capital filed for insolvency. The union was confident in signing up a replacement sponsor for the team within the next month. Full Story The Australian (04/23)

Vincit and the International Biathlon Union (IBU) to Build a New Digital Ecosystem  

Norwegian Team (Photo Credit: IBU)

The International Biathlon Union (IBU), the sport’s governing body, has announced a new digital collaboration with the Finland-based technology company Vincit. The partnership, which was announced today, will see IBU and Vincit co-develop a new digital hub ahead of the 2021-22 season, with the company providing maintenance services through 2025. The launch is scheduled for November, ahead of the following winter sports campaign. Full Story Yahoo (04/26)

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