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Brazil’s club football sponsorship market is in freefall following the loss of state-owned bank Caixa Econômica Federal – the biggest spender of the last decade.

Alibaba chief executive Jack Ma and Uefa president Aleksander Čeferin were the main movers behind the eight-year deal between Uefa and electronic payments brand Alipay, SportBusiness Sponsorship has learned.

The InterContinental Hotels Group (IHG) acquired Official Sponsor rights to the US Open tennis championship in a five-year deal with the United States Tennis Association.

US tech giants GoDaddy and Uber have made significant investments in the Official Partner tier for the ICC Cricket World Cup.