Alibaba has launched a new business…in sports – CNBC

Chinese internet giant Alibaba set up a new sports business on Wednesday as it continues to expand into areas beyond e-commerce amid growth concerns in the world’s second-largest economy.

Exact details of what the Alibaba Sports Group would be doing were thin, but the New York-listed parent company said it will be involved in several different aspects of the industry.

“Alibaba Sports Group expects to integrate e-commerce, media, marketing, video, home entertainment, cloud computing and other Internet-enabled technologies to form a sports platform that will participate in different aspects of the professional sports industry, including sports copyrights, sports media, events, ticketing, etc,” the company said in a press release.