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Major League Polo Announces 3.0 Billion Yuan Raise

06-09-2020 08:48 AM CET | Sports

Press release from: Major League Polo Properties, Inc.

Nigel Luk and Josephine Chien with Cartier team. © www.imagesofpolo.com

Nigel Luk and Josephine Chien with Cartier team. © www.imagesofpolo.com

HONG KONG — U.S. based pro polo sport league, Major League Polo (“MLP”) announced this week that it plans to raise 3.0 billion yuan (approximately $428 million U.S.) based on a 18.8 billion yuan valuation via a private placement. The firm said 1,1 billion yuan of the funds would be used for eSports technology research and product development and 1,9 billion yuan to replenish working capital. This private placement will initiate in June 2020 in the Asian markets, with China as its first placement availability to a limited investor group of up to 10 accredited individuals or entities.

MLP and luxury equestrian sports are key players in China’s push to be among the world’s first to build platforms where sports consumers can engage in a sport from their mobile, desk and Xbox or PlayStation platforms in a premium demographic.

Ninety-six (96) matches among its NPC and APC play-off brackets are slated to begin January, 2021 and run over a 12-week period, with 16 Live Broadcasts, 2 Semi-Finals and 1 MLP-World Series of Polo (MLP World Cup). Depending on the state of COVID-19 in the U.S. at the beginning of their season, like Wimbledon, Major League Polo will be using foresight in planning its broadcast events by investing heavily in vital pandemic event insurances to ensure player salaries and winnings as well as investing in expert sports data analysis and new technologies to broadcast their 96 bracket matches virtually to their fans.

The MLP SuperDraft can be viewed by subscriber fans on the official MLP website where they will be able to interact with their favorite polo players. The broadcast format will allow celebrity polo fans to pop in throughout the draft process as guest hosts and live commentators. According to both Alltech’s Steve Elliot and the U.S. Horse Council’s data, the annual economic impact of the equine and polo industry is significant: approximately $300 Billion dollars and 16 million full-time jobs - $102 Billion dollars of which is generated in the U.S. alone. With over 9.2 million horses and 2 million horse owners among its 328 million U.S. citizens, the MLP is expecting to continue growing its interactivity with horse owners steadily.

The upcoming MLP SuperDraft Live Stream Event will not only enable fan subscribers to connect with their favorite polo players in virtual chats but will feature special interactive merchandise giveaways and rewards for polo fans with and without horses. A side stream polo pony auction will be hosted simultaneously.

Major League Polo
5 Concourse Parkway
30th Floor - Suite 3000
Atlanta, GA 30328

ABOUT MAJOR LEAGUE POLO: Major League Polo is the first governing authority in polo to draft pro and collegiate players into its National and American Polo Conferences for U.S. City-based pro Polo Club team competitions. MLP has 16 U.S. City teams across the nation in its MLP World Series of Polo Championship Series that features the best of national and international polo athletes. Its MLP Digital division, through innovative sports gaming content, is focused on delivering classic game style competition on gaming systems and other live platforms, including social apps for mobile devices. Major League Polo is represented by Octagon Sports, a premier sports and entertainment agency.

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