Hong Kong soccer body seeks HK$20m in sponsorship for new Premier League
HKFA says 'global corporations' are being tapped to provide funds to cover prize money for competitions and also subsidies to clubs
The Hong Kong Football Association hopes to secure HK$20 million in sponsorship from "global corporations" as part of its plans for a proposed new Premier League.
Steven Lo Kit-sing, the HKFA vice-chairman, said on Wednesday discussions were ongoing with more than one firm. "These are not small companies but global corporations that have a strong financial background," said Lo, who is also chairman of the marketing and communications committee of the association.
"The new money could be used as prize money for the league and cup competitions, and if everything works out we may also be able to give subsidies to clubs to strengthen their management, sports science support as well as youth and senior squad training.
"We hope everything will be finalised in May so that the clubs can have ample time to prepare themselves for the new season. If they know both the league and cup competitions will offer lucrative prize money, they will have an incentive to invest more in their own teams."
We hope everything will be finalised in May so that the clubs can have ample time to prepare themselves for the new season
Lo cited horse racing in Hong Kong, saying owners were willing to spend money on quality horses because they know there are good potential returns on their investment. "There needs to be a drastic change in the prize money structure or it will be very difficult to get teams to invest in professional soccer," he said.
