The relationship goes back to 2008 as the footwear and apparel provider for tournaments taking place in Asia.

PEAK now becomes a global partner of FIBA and for its events worldwide following a press conference in Wuhan, where the 2011 Asia Championship finished last weekend, with China sealing their passage to next year's London Olympic Games after claiming victory over Jordan.

Patrick Baumann, the secretary general and International Olympic Committee (IOC) member, said: "It's particularly important to have Asian companies as strategic partners of FIBA given the strong popularity of the game in Asia, especially China.

"As well as the revenue and the financial input, it's very important to have a brand that is committed to the sport of basketball because they're working with us to promote the game.

"FIBA is going to be a strategic partner for PEAK who have chosen basketball as their lead sport."

PEAK are looking to capitalise on their growing presence in China with the agreement, and their chief executive Jim Xu said: "Clearly FIBA gives us credibility and helps build the brand outside of China.

"Aligning ourselves with and working closely together with the world governing body of basketball is a smart long term strategic move, not just for the exposure but for the other opportunities each can provide the other."

Champion will remain the apparel provider for FIBA tournaments outside of Asia until 2016.

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