China's Dalian Wanda Group has agreed a multi-year business partnership with FIBA, the World governing body of basketball. The deal was signed in Beijing earlier today.
Under the agreement, Wanda has been awarded the exclusive rights for the marketing and sales of global sponsorship and licensing rights to basketball events under FIBA. These include the FIBA Basketball World Cup and qualifiers, Men’s and Women’s continental cups and qualifiers, as well as the FIBA Women’s Basketball World Cup and Youth World Championship from 2016-2033.
The partnership will cover “marketing initiatives and services in the area of branding, merchandising, event hospitality, on-site operations and marketing partner support,” the company announced. As well as the long-term business partnership, the two parties will work together to establish a new basketball tournament in Asia. Additionally, Wanda has been awarded the hosting rights to the 3X3 Basketball Tournament in China.
Wanda Group has spent heavily in sports over the past few years. The company is now the owner of Infront Sports Media and WTC, as well as being a global partner of FIFA.
Source: Wanda Group
Proofread by Sean O Diobhilin