Date
20 September 2017
Guangzhou Evergrande coach Marcello Lippi gets a lift after the team's win in last year’s Asian Champions League. Photo: Wall Street Journal
Guangzhou Evergrande coach Marcello Lippi gets a lift after the team's win in last year’s Asian Champions League. Photo: Wall Street Journal

Evergrande fans take Alibaba buy-in and run with it

It didn’t take long for Guangzhou Evergrande fans to have a ball with the news of Alibaba buying half of the soccer club.  

Some have started designing a new logo for the club while others have kicked around some possible names. How about calling the club “Tao Dao Bao”, a shot at Alibaba’s Taobao online mall and a phrase that means “dig up big treasures”? Or maybe Yun, a reference Alibaba’s cloud business, would be better.

Some have joked that the 16 main members of the squad can soon expect to get their salaries through Alipay, Alibaba’s third-party payment system. There are also some rough calculations about how much interest they would earn if they put their money in the platform’s Yu’E Bao money market fund. The back-of-the-envelope estimates indicate that coach Marcello Lippi, for instance, would collect more than 10,000 yuan (US$1,600) a day if he put his reported 10 million (US$13.6 million) annual package into the investment vehicle.

The official Yu’E Bao Weibo got into the spirit by saying that if all the team members were paid through Alibaba, they would have to open around 260 accounts because each can only deal with a maximum of 1 million yuan. Lippi alone will need 81 accounts using this tactic, one no doubt many would like to field.

– Contact the writer at [email protected]

SK

EJ Insight writer

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