Rising East Asia League secures seed funding from AEF Greater Bay Area Fund
HONG KONG, Nov. 17, 2023 /PRNewswire/ -- Rising East Asia League (Realeague), the proposed new regional professional basketball competition, has announced the completion of seed funding from the AEF Greater Bay Area Fund (AEF GBA Fund) managed by Gobi Partners GBA (Gobi GBA). This round of funding will be used to expand the operations team and kick off comprehensive preparations leading up to Realeague's inaugural season.
Headquartered in Hong Kong, Realeague is an innovative sports entertainment brand dedicated to the next generation of basketball fans in East Asia. Planning to launch a new pan-regional competition featuring top clubs from Mainland China, Japan, Korea, Hong Kong, Macau, Taiwan, and Mongolia, it aims to promote the development of the sport and ultimately elevate the region's overall level of competitiveness on the basketball map.
Jay Li Jintian, Founder and CEO of Realeague, is a sports entertainment veteran and respected executive with extensive league operations experience at both the NBA and the CBA. He also co-founded China's most influential basketball scholarship program, which selects and sends talented young players to the U.S. for high school.
Li said, "It's a remarkable fresh beginning for East Asia basketball, given the enormous potential. We've listened to the fans, players, clubs, and leagues. At Realeague we will strive to build a brand and a platform that is accessible, inclusive, and sustainable for everyone who shares a passion for the game in this part of the world. "
AEF GBA Fund marks their first investment in the sports entertainment industry. Chibo Tang, Managing Partner of Gobi GBA, said, "Sports can bring immense economic and social value. We firmly believe that GBA has a chance to play a pivotal role in the continuing growth of East Asia basketball. Jay and his team have an impressive track record in the business, and we are confident that Realeague will be a success."
About Rising East Asia League:
Rising East Asia League (Realeague) is established in response to Project REAL, the strategic initiative under the framework of the East Asia Basketball Association. Its goal is to evaluate the status of the current international club basketball landscape in East Asia and to develop an actionable plan for a new, pan-regional competition in 2024.
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SOURCE Realeague Limited
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