GHY Culture & Media, better known for producing movies and concerts, is paying US$10 million for the rights to organise a soccer tournament in China that is expected to feature star player Cristiano Ronaldo.
Under terms of an agreement with Al Nassr Club Company, where the Portuguese star is now playing, GHY will organise the "China Tournament January 2024".
The matches will be played between Jan 21 and 29 next year, pitting Al Nassr and other teams to be designated by GHY.
The friendly matches, tentatively, will be played in at least two cities in China, to be finalised from the shortlist of Shenzhen, Xiamen and Haikou.
As described by GHY, Al Nassr is a professional Saudi Arabian club and Ronaldo is a registered first-team player of the 2023 – 2024 season.
According to GHY, as the organiser, it will have exclusive rights regarding sponsorship, licensing, broadcasting, ticketing, advertisement, endorsement, certification operation, promotion and any other rights related to the soccer tournament.
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GHY, in its announcement via SGX, maintains that organising this soccer tournament does not change its risk profile as this activity is similar to organising concerts.
