Chinese liquor company Kweichow Moutai is considering a sponsorship deal with Argentinian football team River Plate.
According to a report in Ole.com, Moutai is reported to be ready to pay around $3m per season. This falls short of the $5m per season River Plate was originally hoping to earn from its new shirt sponsor.
Ole.com reports that River have been without a shirt sponsor for more than a year. With local marketing budgets tight, it has struggled to get a brand to meet its asking price. An offer from Banco Supervielle was rejected as it was too low. The club also had talks with Turkish Airlines but were unable to reach a deal.
Kweichow Moutai, visited the club in mid-April with a delegation led by the president and general manager of the brand, Li Baofang. Kweichow Moutai is a partial publicly traded, partial state-owned enterprise in China, specialising in the production and sales of Maotai liquor, and has been listed on the Shanghai Stock Exchange since 2001.