Now LeSports terminates sponsorship of Beijing’s Wukesong Arena
LeSports, the beleaguered sports arm of the big-spending Chinese technology giant LeEco, has ended its title sponsorship of the Wukesong Arena in Beijing.
Bloomage International Investment Group, the venue’s owner, issued a statement on Tuesday saying that LeSports had opted to terminate its naming rights deal.
LeSports had agreed a five-year deal which was set to expire in 2020, according to reports in China.
The Wukesong Arena is operated by sports and entertainment management company AEG.
The arena was home to the basketball competition at the Beijing 2008 Olympic Games and is to stage the ice hockey tournament when the city hosts the winter Olympic Games in 2022.
Payment giant MasterCard was the title sponsor of the venue between 2011 and 2015.
LeEco’s LeSports operation has lost various rights in recent months as a result of financial woes at the parent company, which has previously admitted to ‘overextending’ itself in a lavish spending spree.