Le Sports, which is operated by Chinese internet company LeTV, has received a $1bn (€900m) boost through a series B financing round, according to the Sina Technology news website.
The identities of the investors will be disclosed at a press conference next week, the report added.
The funding will be used to drive Le Sports’ rights acquisition strategy, according to the Global Times news service.
“The main purpose of its series B financing is to purchase copyright resources so that the company can continue to pursue its strategy of building a complete sports ecosystem,” Chen Wei, an analyst with Beijing-based investment consultancy ChinaVenture, said.
Le Sports aims to establish a company that operates events as well as offers a multimedia content platform.
The company raised about $120m in its series A financing round in May 2015. Private equity firm Yunfeng Capital and the Wanda Investment arm of the Wanda conglomerate were among the lead investors.
Last month, Le Sports struck a deal for coverage of North America’s Major League Baseball.