The alliance will also seek to develop China's national team and the grassroots game in the country, which is hosting the 2019 Basketball World Cup tournament. President Xi Jinping has prioritized developing China's national teams and sees the global sports industry as a platform to showcase China's expanding international influence. Wanda chairman Wang Jianlin and FIBA secretary general Patrick Baumann said Wanda subsidiary Infront Sports & Media will exclusively sell and market the federation's global sponsorship and licensing rights for FIBA's Basketball World Cup events up to 2033. BEIJING (AP) " China's largest private property developer, the Wanda Group, has teamed up with basketball's international governing body in a multimillion-dollar marketing deal as it expands its global presence in sports. Wanda is also a major sponsor of the FIFA World Cup.

Source: New Zealand Herald June 16, 2016 06:00 UTC