China sportswear manufacturer Li-Ning has reached a sponsorship
deal with Miami Heat's All-star center Shaquille O'Neal of the
National Basketball Association (NBA), according to the country's
leading website Sina.com.
The value of the contract is said to be at least 10 million yuan
(US$1.25 million), making it the most expensive deal in the
company's history.
Shaquille O'Neal
A press officer at Li-Ning said yesterday there had been no
official confirmation of the deal.
Company chairman Li Ning also refused to comment during a press
conference on Wednesday in Beijing, but did not deny the move.
Sina reported that the deal was completed in mid-June, adding
official details were due to be released within the next 10
days.
"We started the negotiations in February this year," a source
told Sina.com. "It is his (O'Neal) sparkling performance that
impresses the company and he is exactly in accordance with our
spirit - 'Anything is Possible.'
"Basketball will be the major sponsor target of the company
ahead of 2008 and there will be further deals after signing
O'Neal."
Founded by the Chinese Olympic champion gymnast Li Ning, the
company is arguably the most dynamic home brand in terms of
high-end connections with overseas players and sports
organizations.
If Sina's report is confirmed, it would make O'Neal Li-Ning's
second current NBA player to have signed a deal this year following
a two-year agreement with Cleveland Cavaliers' guard Damon Jones in
January. The company became the NBA's marketing partner last year
and has sponsored the Spanish national men's basketball team, which
features Pau Gasol of the Memphis Grizzlies, since 2002.
It would be the biggest deal ever signed by a home sportswear
company and an NBA player if confirmed.
The previous highest deal involved Portland Trailblazers legend
Clyder Drexler, who signed with another home brand, Athletics, in
2005.
Away from the basketball court, the company joined men's
professional tennis tour ATP as the official marketing partner
earlier this year.
O'Neal, 34, is widely known as the most dominant center in the
NBA league, winning four NBA championships with Los Angeles Lakers
(2000 to 2002) and Heat (2006).
Having transferred to Heat in 2004, he has averaged 22.9 points
and 10.4 rebounds over the past two seasons.
(China Daily August 4, 2006)