Fiba, the global governing body of basketball, has extended a long-term strategic partnership with Chinese multi-national conglomerate Wanda through to 2031.
Wanda will continue as a Fiba global partner for the next 12 years, according to the agreement, which marked an extension of a partnership signed in 2016. As a global partner, they will have global marketing rights to the next three cycles of the Fiba Basketball World Cups and World Cup Qualifiers, the Women’s Basketball World Cups, the Fiba Continental Cups and also the Fiba Youth World Cups.
The company will also have exclusive marketing rights across a wide range of fields including real estate development, shopping malls, hotels, travel agencies, movie theatres, movie and film production and film studies, and amusement and theme parks.
Fiba secretary-general Andreas Zagklis said: “This 12-year extension confirms that Wanda and Fiba together think long-term and share the same vision. With this agreement, Wanda becomes one of the longest partners of Fiba in its 90 years of history.”
Wanda Group chairman Wang Jianlin said: “This strategic partnership between the Wanda Group and Fiba will greatly promote the development of basketball globally. It will also bring more top international basketball competitions to China and strengthen basketball’s position as the number one team sport in the country and contribute greatly to its development.”
The two organisations also launched the Little Champions program, which gives children the opportunity to step onto the court of the Fiba Basketball World Cup 2019 and join their idols before every game.
In 2016, Fiba signed a a long-term strategic partnership with the Wanda-owned Infront Sports & Media agency through to 2033. Under the deal, Wanda will be the governing body’s worldwide exclusive partner for the sale and marketing of global sponsorship and licensing rights in relation to four Fiba Basketball World Cup cycles, comprising the tournaments, their qualifiers, men’s and women’s continental cups and their qualifiers, as well as Women’s Basketball World Cups and Youth World Championships.