THE top-flight Chinese Super League (CSL) has sold its television rights for five years (2016-2020) for a record 8 billion yuan (US$1.25 billion).

    China Media Co. Ltd. (CMC) and CSL signed the deal Wednesday. The company won the bid last month. The television rights for the 2015 season fetched only 50 million yuan.

    CSL chairman Ma Chengquan said the increased revenue will be put into youth training programs, improvement of club facilities and the upgrading of broadcasting technology to improve the league.

    CMC chairman Li Ruigang revealed an outline of the deal Tuesday in Hong Kong.

    “It is a really high price, but we are really looking for something that changes behavior,” Li said.

    The company to date has largely focused on film, TV and technology ventures. And the move is by far CMC’s biggest to date in the sports arena, which Li says is one of four key segments that CMC will be backing.

    Other Chinese media companies are also rushing to invest in sports businesses and to bid up rights. Wanda last year acquired a stake in Spanish soccer club Atletico Madrid, and this year bought European sports rights and marketing leader Infront. In the last months Wanda announced the purchase of the Ironman triathlon competition.(SD News)