BEIJING, June 16 (Xinhua) -- For the period of four basketball World Cups up to 2033, China's Wanda Group will be the exclusive partner of the Federation of International Basketball (FIBA) for their worldwide sponsorship, the sale of licensing rights and global marketing.
At a signing ceremony here on Thursday, both FIBA and Wanda announced that their long term partnership will take immediate effect and cover all FIBA-sanctioned activities including the FIBA basketball World Cups, the men's and women's Continental Cups, as well as the FIBA women's basketball World Cups and Youth World Championships.
The partnership will see the creation of FIBA Marketing, a cooperation between FIBA and Wanda's Infront team, which will focus on supporting FIBA in further developing the awareness and value of team basketball on a global basis.
While FIBA pledged to have an active involvement in the strategic and commercial activities of FIBA Marketing, Wanda also committed significant resources to the success of the FIBA Basketball World Cup 2019 in China.
"This strategic partnership is of significant importance to FIBA," said FIBA Secretary General Patrick Baumann, also a member of the International Olympic Committee.
"It is another tangible result of FIBA's ambitions to accelerate the growth by unlocking the true potential of national team basketball, bringing the game to a new level globally and tapping into emerging markets in Asia, Americas and Africa.
"It confirms the strong commitment of Wanda to basketball and to support FIBA's objective of making basketball the most popular sports community not only in China but also worldwide."
Wang Jianlin, chairman of the Wanda Group, said that "the strategic partnership with FIBA is another major development that Wanda has made in the sports industry. Wanda will fully leverage its own influence, as well as Infront's expertise, to raise basketball globally, and in China, to new heights."
As one of the key sports in China, basketball has become a part of Wanda tradition with Infront's first partnership dating back to 2005 when Wanda Group signed the contract with the Chinese Basketball Association (CBA) to sponsor the CBA League as well as the national teams, both men and women.
On the world arena, Infront also becomes the exclusive global partner for Turkish men's and women's national teams, as well as for Turkey's Spor Toto Basketball Super League, and is also initiating collaboration with the German Basketball Bundesliga.