Alibaba Group Holding has established a new Alibaba Sports Group together with Sina Corporation and Yunfeng Capital. The idea is to leverage Alibaba's large e-commerce footprint in China with Sina's media resources to create an integrated, internet-based sports platform for the benefit of the sports industry, sports teams, sports fans and other consumers. Alibaba will own a majority of the shares and its chief executive, Daniel Zhang, will act as chairman. Zhang Dazhong, former vice president of the Shanghai Media Group, will act as CEO of the new Alibaba Sports Group.

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