Volleyball World, a new partnership between FIVB and CVC Capital Partners Fund is designed to boost the growth of the game globally ©FIVB

The International Volleyball Federation (FIVB) has launched a new $300 million (£220 million/€250 million) commercial initiative, Volleyball World, designed to boost growth and investment worldwide.

The FIVB is working in partnership with CVC Capital Partners Fund VII, which has invested in and worked with numerous other sports including Formula 1, Moto GP and Rugby Union.

An FIVB release claimed the new partnership with the Luxembourg-based firm "will drive innovation, growth and investment in volleyball around the globe".

It added: "Volleyball is the fourth most popular sport globally, with more than 800 million fans and high participation, across attractive markets, including Italy, Brazil, Japan, Poland, China and the United States.

"Volleyball was the most watched sport at the 2016 Rio Olympic Games, with 2.6 billion viewer hours globally.

"Volleyball World will become the commercial entity for the sport around the world, initially for FIVB and aiming at working later alongside other leagues and federations, with the goal of increasing the profile and popularity of the sport, through fresh investment for the benefit of fans, players and National Federations.

"Volleyball World will be responsible for the commercial operation of key volleyball and beach volleyball international events, including the World Championships, Olympic Qualifiers and the Volleyball Nations League.

"The partnership will focus on event hosting, fan experience, media, data / digital opportunities, and sponsorship to grow commercial revenues for reinvestment, which will ensure the long-term success of the sport."

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wondering how or if that links in with the photo above ?