Wanda shoots for basketball success

Dalian Wanda Group, through its subsidiary Infront Sports & Media AG, on Thursday announced a long-term business partnership with the International Basketball Federation - its latest move to explore the sports business. For over four FIBA Basketball World Cup cycles, up to 2033, Wanda will be FIBA's worldwide exclusive partner for the sale and marketing of global sponsorship and licensing rights.

The long-term partnership starts immediately and takes an all-encompassing marketing approach. It involves comprehensive marketing initiatives and services in branding, merchandising, event hospitality, on-site operations and marketing partner support.

Wanda's partnership with FIBA followed involvement with FIFA in March. Since last year, through the acquisitions of Infront Sports & Media in Switzerland, World Triathlon Corp in the United States and the endurance sports sector of Lagardere Sports & Entertainment in France, Wanda has established an integrated value chain to become the world's largest sports company by revenue.