One of China’s largest non-government retailers, the Suning Commerce group has acquired League Champions Korea team Longzhu Gaming.
The Suning Group made the announcement on Friday (Local time) that they plan to steadily increase the amount of funding in the coming season, writes Fomos’ Park Sang-jin. The long term plan for Longzhu includes creating an office location, improvement of player working conditions, and increasing the number of staff.
The Suning Commerce Group has made a reported 400 billion Chinese Yuan (about $58 billion) and started to increase its business model to include real estate and sports. Most recently it was the first Chinese company to buy a European football team (Inter Milan) and has spent billions of dollars in contracting the broadcasting rights of the English Premier League for $700 million.
This marks the company’s first venture into esports, and interest is gathering as to how the Suning Group will spend it’s funds to a currently ailing LCK team.