The Asian Football Confederation (AFC) has signed a three-year sponsorship deal with Chinese brewery Tsingtao, reports, www.sportspromedia.com/. Tsingtao, the second largest brewer in China, has become the first Chinese company to support the continental governing body in a commercial capacity.
The beer brand has signed up to support AFC-organised club competitions - most significantly the AFC Champions League, which was won this year by Chinese club Guangzhou Evergrande.
Other tournaments Tsingtao will back include the AFC Cup, the AFC President's Cup, and the AFC Futsal Club Championship.
Although no financial details have been released, SportsPro sources suggest the deal is worth around US$2.5 million annually.
The deal, which was brokered by AFC marketing partner World Sport Group, will kick in from the beginning of 2014.
Tsingtao is sold in 62 countries around the world and accounts for 50 per cent of China's beer exports.
For breaking stories and all the great banter like us on Facebook: facebook.com/tribalfootball