Investment Marks Momentous Progression for AIBA's Global Marketing Initiative17 July 2014
The International Boxing Association (AIBA), the sport of boxing’s world governing body, has today announced it has received the largest investment in its recent history after signing an incredible CHF 35 million deal to support its exclusive global marketing company, the Boxing Marketing Arm (BMA).
The investment comes from First Commitment International Trade Ltd. (FCIT), a private entity based in Hong Kong whose businesses encompass finance, banking, consumer goods and other markets.
At its 2014-2015 Executive Committee Meeting, currently being held in Istanbul, AIBA reviewed several investment offers and finally approved FCIT as a partner for AIBA and BMA due to the company’s solid business portfolio and obvious passion for sport.
The AIBA President and the BMA Board Chairman, Dr Ching-Kuo Wu, expressed his delight at the new partnership. He said: “It is a great step forward in the success of our global boxing project and the development of AIBA. We are grateful for the insight and belief that FCIT Chairman, Mr Di Wu, has for the potential of boxing in the future.
“I am especially pleased to have a partner and investor with a proven record of business success who will provide us with great value above and beyond the investment fund.”
AIBA’s recent revolutionary programs, the World Series of Boxing (WSB) and the much-anticipated AIBA Pro Boxing (APB), offer a fantastic and fruitful opportunity for FCIT’s plan to expand globally in the sports industry, something which the company was eager to exploit.
As a part of the investment, FCIT will be the exclusive representative for all BMA China businesses which are located in the Greater China territories, including mainland China and the People’s Republic of China Special Administrative Regions of Hong Kong and Macau.
“We have always believed in the rapid growth of businesses in the sports industry and boxing has that potential,” said FCIT Chairman. Mr Di Wu.
“In addition to its elite level programs, we believe that there is great potential for success in AIBA Pro Boxing and the World Series of Boxing both in terms of short-term revenue generation and long-term asset values.”
AIBA launched its WSB program in 2010 with an initial 12 Franchises and will begin Season V in January 2015 with 16 teams.
AIBA Pro Boxing’s first pre-ranking competition will begin on October 24 this year and a total of 40 matches in all ten weight categories will be held in ten designated countries until January 2015, which will all serve as pre-ranking events.
From March 2015, the APB will take place with ten inaugural World Champions being crowned, establishing a pathway through APB by which future generations of boxers can achieve their dreams.
BMA will be instrumental in generating all revenues necessary for AIBA to build structured platforms for further achievement by maximizing the commercial rights of AIBA Open Boxing, APB and WSB programs and will therefore support the growth and success of global boxing at all levels.