East Asia Super League (EASL) Secures Major Investment from Crest Sports and Entertainment in Series C Funding Round
East Asia Super League (EASL) Secures Major Investment from Crest Sports and Entertainment in Series C Funding Round
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Hong Kong SAR, 22 December 2022 – The East Asia Super League (EASL) has announced it has secured funding from lead investor in its Series C round, Crest Sports and Entertainment. This new investment marks a major milestone in EASL’s fundraising history and demonstrates the confidence of a variety of strategic value-added investors including Raine Venture Partners, and current and former NBA players including Baron Davis, Metta World Peace, Shane Battier and Jalen Green.
On December 7, EASL unveiled EASL Champions Week, its five-day, 10-game regional championship that will feature the top teams from Japan’s B.LEAGUE, Korean KBL, Philippine PBA, China’s Taipei P.LEAGUE+ and EASL occupied Bay Area Dragons, coached by Australian coaching legend and Olympic gold medalist Brian Goorjian, is a diverse face of Chinese basketball with top players from mainland China, Hong Kong and the Chinese diaspora. EASL Champions Week is EASL’s first major event following the COVID-19 pandemic and has recently attracted massive media attention and fan anticipation.
“The East Asia Super League is honored to receive financial support for its growth from an experienced strategic investor like Crest Sports and Entertainment on our journey to become one of the top three basketball leagues in the world in terms of fanbase and commercial revenue by 2025” , said Matt Beyer, CEO of the East Asia Super League.
Crest Sports and Entertainment’s investment in EASL brings additional excellence and expertise in the Asian sports industry as owners of one of Australia’s premier National Basketball Leagues (NBL), the Illawarra Hawks. The Fund’s Series C Lead Investing Tips Announce a Funding Round Totaling $40 Million. EASL intends to complete by March 2023 to support expansion of its home and away competition format beginning October 2023.
“The East Asia Super League has built an unrivaled brand from the ground up in a short period of time. Our leadership in this round reflects our confidence in the incredible growth opportunities that come with world-class basketball media entertainment in Greater China, Japan, Korea, the Philippines and beyond, including the ability to bring the best of Asian basketball to the world.” said Jared Novelty of Crest Sports and Entertainment.
Key features of Crest Sports and Entertainment’s investment include exclusive rights to establish a high-performance EASL-branded youth academy in Australia, which will attract the best up-and-coming players from across the Asia-Pacific region.
Funds will be used to expand EASL competition to an eight-team, pan-regional home-away championship format beginning in October 2023, expanding to 16 teams in October 2024, adding mainland China and potentially other regions to production and distribution new and compelling entertainment content for the fast-growing Millennial and Gen Z fan base.
For more information about EASL, visit www.easl.basketball.
