It is claimed in a statement that 2019 will mark an important strategic change for the organisation.

While SPORTELMonaco will remain as the "global marketplace" concentrating on maximising commercial opportunities for its members from across the world, SPORTEL says it will provide its community with the opportunity to participate in a new event, which will "shape the future of the international sport business industry".

The new event will include "very high-level speakers and discuss the key issues that need to be addressed by the decision makers of global markets".

An official announcement on the new concept is due to be made on Monday (October 22), during SPORTELMonaco.

Among the speakers at the announcement will be Laurent Puons, chief executive of SPORTEL and Monaco Mediax.

He will be joined by Ben Speight, chief executive of SportBusiness Group. 

SPORTELAsia, another one of the organisation's main events, is considered the ideal environment for the SPORTEL community to come together to do business in the Far East and across Asia Pacific.

It is described as a unique opportunity for SPORTEL participants to meet the leading sports business decision makers from Asia.

The 2018 SPORTELMonaco convention, which will take place at the Diaghilev Exhibition Hall, has been organised by Prince Albert II of Monaco alongside the International Olympic Committee.

It will bring together the leading members of the sports marketing and media industry.

This year’s edition is scheduled to run from October 22 to 24.