Garena, the Singapore based gaming and e-commerce company, has inked a two-year deal with S.League club Young Lions that is worth up to S$4 million (USD 2.84 mill) according to a report at ChannelNewsAsia.
The deal sees Garena providing S$2 million (USD 1,43 mill.) in cash, and a programme budget of up to S$2 million for the promotion and development of the team. In turn, the team will be known as the Garena Young Lions and will wear shirts bearing the Shopee brand, which is Garena’s social-first, mobile-centric, C2C marketplace.
According to the Football Association of Singapore (FAS), this is the biggest sponsorship deal for an S.League club in the 21-year history of the domestic professional football competition.
Founded in 2009, Garena is a leading platform provider of online entertainment and communication tools across Southeast Asia, Taiwan and Hong Kong. It has partnerships with game developers including Riot Games and Electronic Arts, and exclusively distributes game titles such as the multi-player online battle arena games League of Legends and Heroes of Newerth, the online soccer game FIFA Online 3, and the first-person shooter games, Point Blank and Alliance of Valiant Arms.
Forrest Li, founder and group chief executive of Garena which is currently valued at S$2.5 billion, said: “As a young company that is founded in Singapore, Garena has a deep sense of national pride. The Young Lions sponsorship will allow us to actively contribute to the local professional football scene and create opportunities for young athletes to pursue their dreams.”
FAS president Zainudin Nordin said: “This record deal represents a great vote of confidence for our programmes… The money will be spent wisely on the development of our most promising young talents, and to build the next generation of national team players.”
Source and first seen at: ChannelNewsAsia