LeEco takes title sponsorship of Beijing Guoan

Chinese internet company LeEco, formerly known as LeTV, has been named title sponsor of Beijing Guoan under a wide-ranging partnership with the Chinese Super League football club.

Under the deal, the Yutang Sports website said the club will take on the official title of Beijing Guoan LeEco Football Club for the 2016 season. Financial terms of the agreement were not disclosed.

The announcement comes amid continued speculation surrounding a takeover of the club by LeEco. Earlier this month, the then-named LeTV Sports, which is operated by LeEco, denied reports it had agreed to take a 50 per cent stake in the club.

Multiple reports in China had suggested the firm would invest CNY2bn (€279.5m/$304m) in the club, and that the deal would also see the club rebranded as Beijing Guoan LeTV Football Club.

Although the rebrand has gone ahead, a takeover hasn’t yet been finalised. Both the club and LeEco have confirmed that they will discuss the possibility of further co-operation in the future.

LeEco and Guoan have also set up a strategic development committee as part of their agreement. The committee will be co-chaired by Lei Zhenjian, chief executive of Le Sports, and Luo Ning, chairman of Beijing Guoan.