The UIM, the global governing body for powerboat racing, has entered into a partnership with Chinese operating group Bund Holding.
Although terms of the deal were not disclosed, it was confirmed that the deal will come into effect from next month’s UIM Awards Giving Gala.
Bund Holding, which is already involved with powerboat racing, has an existing relationship with the UIM and last year helped to organise the governing body’s Aquabike Class Pro World Championship in China and the Nations Cup World Series Grand Prix of Shanghai.
Xin Chongjie, president of Bund Holding, said: “Powerboat racing is a unique and dynamic sport which offers us great opportunities and a strong platform to develop our social and public involvement.”