The International Volleyball Federation (FIVB) and CVC Capital Partners Fund VII announced a strategic partnership on Monday (1), which aims to promote volleyball globally. As a result of this alliance, the Volleyball World Project was born, which would also include innovation, development and investment in sports.
Volleyball World will become the commercial unit of volleyball worldwide, initially aimed at working with FIVB and later with other leagues and associations, through new investment in the benefit of fans and players, increasing the visibility and popularity of the sport Purposefully. National Association. Volleyball World will be responsible for the commercial operation of the main international volleyball and beach volleyball events. The partnership will focus on creating events, fan experiences, media, digital opportunities and sponsorship. All to ensure the success of the game in the long run.
“We are very happy to partner with CVC to launch Volleyball World. FIVB is committed to constantly innovating in search of opportunities that can sustain the development of sports worldwide. With CVC, we are confident that we have found a partner with the experience, network and capital to support FIVB in our mission to make the game more professional for the benefit of fans, players and associations, ”said FIVB Chairman Arya Graeka said.
“Volleyball is one of the most popular sports in the world and has a huge untapped fan base and commercial potential. FIVB and CVC working together in the volleyball world will promote innovation and greater fan participation, which will accelerate growth and allow for substantial reinforcement in the sport. We are very pleased with the partnership with FIVB and look forward to working together to develop volleyball globally, working closely with all players, leagues and federations for years to come, at CVC Partners Head of sports, media and entertainment added. Nick Cleary.
Volleyball is the fourth most popular sport in the world, with over 800 million fans and many players in strong markets such as Italy, Brazil, Japan, Poland, China and the United States. At the Rio 2016 Olympic Games, it was the most watched with 2.6 billion hours.