Fosun Sports Acquires Foyo, Receives PEAK6 Investment

Global pan-sports group Fosun Sports Group announced today the establishment of Fosun Sports as a holding entity, the acquisition of core operating assets and management team of Foyo across games, sports and esports, as well as a minor strategic investment received from PEAK6 Investments.

Wolverhampton Wanderers FC

A subsidiary of Fosun International, Fosun Sports started to gain popularity in sports in 2016 after the acquisition of Wolverhampton Wanderers FC and its subsequent transformation from a traditional soccer brand to a diversified pan-sports lifestyle brand.

Setting up a professional team to operate the club, Fosun Sports managed to greatly enhance the value of Wolves’ brand ever since. The club climbed to the top-flight English Premier League (EPL) after winning the English Football League (EFL) Championship title in 2018, recording two consecutive 7th-place finishes thereafter, as well as participation in the UEFA Europa League, where it finished among the top eight participants.

Based on Wolves’ intellectual property, the group established WWFC sports brand in 2019 and launched a collaboration series with the soccer club, utilizing “Wolves Fashion Night” and “Wolves Fan Night” to harness the combined power of fashion, trend and partner brands. Fosun Sport is also the exclusive authorized partner of China Football Association (CFA) China Team, creating a new lifestyle brand, “My Home Field.”

Expansion into Esports

Fosun Sports used the Wolves to expand into the industry of esports, making the soccer club the most active EPL club in esports since 2018, featuring three teams in the UK, FIFA 22, Rocket League and Le Mans/Formula Pro Series sim racing, including the partnership with another popular esports titles like Fortnite.

A year later, the “Wolves Esports” brand expanded into China, featuring in five divisions, Honor of Kings, QQ Speed, Identity V, Call of Duty Mobile and FIFA Online 4, winning multiple titles from domestic and international competitions.

PEAK6 Investments

US finance and technology firm PEAK6 Investments, owner of prominent North American esports team Evil Geniuses, now returned the favor by investing in Fosun Sports. Evil Geniuses previously received a strategic investment from Fosun Sports in July 2021 in a move that not only deepened cooperation between Wolves and Evil Geniuses, but also ensured Fosun Sports’ entry into the North American esports market.

Commenting on the strategic investment, Fosun Sports Chairman Jeff Shi outlined the “great synergy,” “mutual desire to challenge conformity,” “openness to collaboration,” as well as both organizations’ “shared passion for sports, technology and success” as key ingredients of their collaboration.

We are confident PEAK6 can help bring Fosun Sports and Wolves a wealth of knowledge, wisdom and learning, and support Fosun Sports to become a sports industry group with global influence and much success.”

Jeff Shi, Chairman, Fosun Sports Group