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Alibaba’s Alipay to Invest $145 Million to Develop Women’s Soccer in China

China’s national women’s soccer team got a big boost from online payments app Alipay.

The Alibaba-affiliated firm is taking the lead on a 1 billion yuan ($145 million) dedication to support Chinese women’s soccer over the subsequent decade. The foundations of Alibaba co-founder Jack Ma and executive vice-chairman Joe Tsai are additionally collaborating in the vow.

It is the most significant funding in women’ soccer in China ever, following Alipay.

Alipay wants to bring “know-how, funds, and resources to better assist the progress of women’s soccer in China,” a spokesperson for the corporate stated on Monday. He further noted that it’s not a sponsorship, so it comes with “no industrial strings attached.”

The funds shall be used to back multiple initiatives along with the “efficiency enhancement of the China Women’s National Soccer Team,” and the growth of younger players, Alipay stated in an announcement on Friday.

This “is a brilliant business step that can also have positive social advantages,” mentioned Duncan Clark, writer of a book titled, “Alibaba: The House That Jack Ma Built.”

“Men’s soccer in China has been plentiful with mismanagement, corruption, and it is hard to keep away from that legacy. Women’s soccer gives the promise of something higher,” he mentioned.

The injection of money comes because the US Women’s National Team, which gripped the fourth victory on Sunday at the World Cup, pushes back in opposition to pay inequality between the women’s and men’s sport. The team has sued for equal pay at home and called for more financing in the sport globally.

Rapinoe, who scored one of two goals in the final, slammed FIFA during a news conference over the weekend, saying it doesn’t respect women athletes as much as their male peers.

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