Alibaba’s founder Jack Ma will support Chinese women’s football development with $145 million donations, as announced Friday.
The female football team, despite being underfunded, always perform better than the men’s national squad.
The $145 million (one billion yuan) contribution from Ma, who started an online shopping platform Alibaba and two other foundations, will be unrolled over the coming decade.
The fund will assist in the area of “injury prevention and treatment, the career development of retired footballers, technical development and coach education, and youth development, as reported.
China made the Women’s World Cup presently in progress in France for the seventh time in eight finals and boasts a record that the men’s group can only dream of matching.
However, the ladies’ side accomplishes more with far less funding, and professional ladies’ football in China get little attention.
The group put in a decent performance in France before Italy’s eliminated in the round of 16 to progress to the quarterfinals
They have slipped down the world’s best since getting to the 1999 final against the Americans, where China lost on penalty shootouts, and concerned individuals worry that they might slip further without adequate funding.
Alipay, the charitable of Alibaba, will fund a vast bulk of the contribution, as announced.
The rest of the contributions will come from other foundation founded by Ma, as well as the vice chairman Joseph Tsai.
The three parties aim to make women’s football more sustainable and accessible across the nation.
Cai Yong, an official advisory group individual from the Chinese Football Association, called the donation “unprecedented,” as indicated by the announcement.