Lausanne, Feb 2 (SocialNews.XYZ) The International Volleyball Federation (FIVB) has announced the launch of Volleyball World, a new partnership with CVC Capital Partners, aimed at increasing the growth of the sport around the world.
As per FIVB, Volleyball World will become the commercial entity for the sport around the world, with the goal of increasing the profile and popularity of the sport through fresh investment.
Volleyball World will be responsible for the commercial operation of key volleyball and beach volleyball international events, including: the World Championships, Olympic Qualifiers and the Volleyball Nations League.
As the majority shareholder in Volleyball World, FIVB will oversee the new commercial vision for the sport while ensuring the interests of all stakeholders are represented.
"Volleyball World will boost our sport's financial growth and deliver lasting legacies for the whole game. Working in partnership with CVC we will be able to secure volleyball's future and emerge stronger from the current challenges," said FIVB president Ary S. Grace.
Volleyball is the fourth most popular sport globally, with more than 800 million fans and high participation, across attractive markets, including Italy, Brazil, Japan, Poland, China and the US. Volleyball was the most watched sport at the 2016 Rio Olympic Games, with 2.6 billion viewer hours globally.
Source: IANS
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