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Rakuten decided to expand its baseball's wings to Taiwan. (Image via Japan Today)
Rakuten buys Taiwan's Lamigo Monkeys, sets to enter the CPBL
Stating its interest since early September, Rakuten decided to tread its foot onto the Chinese Professional Baseball League (CPBL). Over two months since the Taoyuan-based baseball team, Lamigo Monkeys, announced that the team was for sale, the Japanese e-commerce company, Rakuten Inc., made an agreement with La New International Corporation to purchase the majority of shares in Lamigo Monkeys Co which manages the baseball team Lamigo Monkeys.The General Manager of Lamigo Monkeys, Justin Liu, confirmed the purchase on Thursday (19/9). The deal between Rakuten and Lamigo Monkeys was reportedly worth between US$17 million and US$22.5 million, and it was finalized on Tuesday (17/9).
Liu reportedly once had a doubt that once the team had been purchased, Rakuten would do a total make-over to the team. However, after the negotiations, the GM was relieved that Rakuten decided to let the team be, and it was even looking forward to working together with the players and the staff.
As a baseball team, Lamigo Monkeys is a promising one. Having lifted up the CPBL trophy six times including back-to-back champion for 2017 and 2018 seasons, Lamigo Monkeys has the highest fans attendance for five consecutive years since 2014.
This was not the first time for Rakuten to enter the baseball field. In 2005, the Rakuten-owned baseball team, Tohoku Rakuten Golden Eagles, made its way to Nippon Professional Baseball (NPB) league.
By stepping into CPBL, Rakuten aims to gain leverage in establishing its stance more in Taiwan to build its “Ecosystem”. Operating in Taiwan for a decade, the deal was seen as a win-win solution for both Rakuten and La New. Rakuten could develop its image and service in Taiwan; in return, Lamigo Monkeys will get the experience of Japanese management for the development of baseball in Taiwan.
Lamigo Monkeys currently belongs to Rakuten by the start of the 2020 season of the CPBL. The new team name, uniform, and logo will be revealed after the CPBL Executive Meeting regarding Rakuten’s entrance to the baseball league.
Source: https://japantoday.com/category/sports/rakuten-buys-taiwan-pro-baseball-team
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