It is claimed the agreement underlines FIBA and Nike's desire to collaborate in order to grow basketball worldwide, focusing on leading official competitions such as the Basketball World Cup and the Continental Cups.

Nike is set to benefit from long-term global marketing rights related to the major FIBA national team competitions.

FIBA says its ambitions to grow the game will be supported by Nike's contributions in the areas of promotion, marketing communication and the engagement of top players and ambassadors.

In a first phase, the related activities will focus on the 2019 FIBA Basketball World Cup in China as FIBA and Nike strive to build the competition as a whole into an "outstanding global sports property".

"We are very excited about this partnership with FIBA," Craig Zanon, vice-president and general manager of Nike Global Basketball, said.

"FIBA represents the highest level of international basketball competition, and Nike is committed to using our unmatched global reach to help foster player development and inspire fans around the world.

"We are honoured to have helped ignite a powerful culture of basketball in China.

"Chinese basketball fans' passion and appetite for the game promise to make the 2019 FIBA Basketball World Cup a marquee global event."

The agreement comes into effect during the year that sees the launch of FIBA's new competition system.

Due to be rolled out in November, it will involve national teams playing regular home and away games over a four-year cycle, which will be used as qualifiers for the 2019 World Cup and the 2021 Continental Cups.

The aim is to increase exposure of the sport by giving fans across the world more opportunities to see their teams compete on home soil.

"With this increased schedule and new emphasis on the international game, we look forward to helping connect fans to the energy and inspiration of their national teams and players," Lynn Merritt, vice-president of Nike Global Basketball Sports Marketing, said.

Nike has also become a FIBA partner in the sports apparel - clothing, footwear and accessories - product category.

As such, it has sponsorship rights for all men's and women's editions of FIBA's competitions for the period from 2017 to 2027.

This includes the 2019, 2023 and 2027 FIBA Basketball World Cups and their qualifiers, FIBA Women's Basketball World Cups, FIBA Continental Cups and their qualifiers, FIBA Olympic Qualifying Tournaments, and FIBA Under-17 and Under-19 Basketball World Cups.

The advertising and promotional use of Nike's marks and imagery at these competitions will include the prominent presence of the "swoosh" branding on the court, the integration of its branding across online and in-arena content as well as the provision of uniforms for on-court officials and volunteers.

The agreement also sees Nike become the title partner for FIBA's world rankings, which rates countries based on the performances of their national teams.

They have been renamed as the Nike FIBA world rankings.

Additionally, Nike will have the licensing rights to develop, distribute and sell a range of celebration products and footwear.

"This is a memorable day for FIBA as we team up with Nike, the basketball brand by excellence," said Patrick Baumann, the FIBA secretary general, SportAccord President and an International Olympic Committee (IOC) member.

"FIBA has already enjoyed the privilege of working with Nike, who is the founding partner of 3x3, our ever-growing and popular urban discipline

"We look forward to this long-term partnership and it helping us grow the game globally, thanks to the unrivalled popularity as well as worldwide presence that Nike has to offer."

FIBA is made up of 213 national member federations across the globe.