As part of the fresh look of the organisation, they have signed a sponsorship deal with food company 7DAYS, which will see Europe’s second-tier club competition renamed the 7DAYS EuroCup.

7DAYS is a property of international company Chipita, which owns multiple internationally recognised brands and delivers its products to consumers in 66 countries.

Other new elements to the branding include Euroleague Basketball changing the typography of the font in both the titles of the Euroleague and EuroCup to “highlight the distinctive elements of both competitions”.

Both events are due to get underway in October of this year.

Further details about the rebrand are due to be released in the near future, Euroleague Basketball has said.

Jordi Bertomeu, the President and chief executive of EuroLeague Basketball, believes the upcoming campaign will “truly be a turning point for European club basketball”.

“We have a great new product with the EuroLeague and EuroCup, an exciting brand to present it, and also a new partner, 7DAYS, that once again trusts Euroleague Basketball to connect with the fans,” he said.

“The 2016-17 season will truly be a turning point for European clubs basketball.”

The announcement comes as the rift between FIBA and the Euroleague - run by Euroleague Commercial Assets (ECA) - which has threatened to tear European basketball apart continues to rumble on.

FIBA Europe ruled that any country associated with Euroleague, the continent's major club competition, risked being thrown out of international tournaments, although the rights of the 16 clubs which play in the competition haven't been affected.

In March it was announced that eight countries - Bosnia and Herzegovina, Croatia, Macedonia, Montenegro, Russia, Serbia, Slovenia and Spain - had been thrown out of the 2017 edition of EuroBasket, the continent's premier tournament.

A further six countries - Greece, Israel, Italy, Lithuania, Poland and Turkey - were sent letters drawing their attention to "recent reports and public statements" which suggest that one or more of their clubs may have entered into an agreement with the ECA.

They were all invited to submit their position to avoid a possible ban, with France and Germany later joining this group to take the total number of countries involved to 16.

The absence of so many countries would completely devalue EuroBasket - while countries have also been threatened with expulsion from other events, including this year's Olympic Games in Rio de Janeiro.