Wanda Group has become the first Chinese Company to become a top level sponsor partner of FIFA. The sponsorship deal was announced on Friday at the headquarters of FIFA in Zurich in the presence of FIFA President Gianni Infantino and Wanda Group's Chairman Wang Jianlin.

"We are pleased to welcome the Wanda Group to FIFA. A company that has a long affiliation with football, has been an active supporter of the game for many years and shares our enthusiasm to develop and strengthen football," said FIFA President Gianni Infantino.

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As a part of the newly signed deal, Wanda Group will enjoy premium sponsorship rights in all FIFA competitions and corporate activities till the 2030 FIFA World Cup.         

"As FIFA President, I am committed to providing stronger support for football development to our member associations, and I believe that the relationship with Wanda will support us to continue the on-going development and growth of the game in China and all over the world," Infantino added.

The FIFA President did not disclose the financial details of the sponsorship deal. However, sources say that is one of the biggest sponsorship deals in FIFA's history.       

Wanda Group enjoys a very close association with football. The Chinese multinational company, which has business in real estate, cinema and entertainment, owns a 20 percent stake in Spanish La Liga football club Atletico Madrid.

Dalian Wanda is one of the major sponsors of the Chinese Super League, while investing millions of dollars in youth football projects to promote footballs across the country.        

Before Wanda Group, Chinese company Yingli Solar - a solar panel manufacturer - signed a second tier sponsorship deal with FIFA for 2010 and 2014 World Cup.   

The sponsorship deal with Wanda Group is the biggest deal under new President Gianni Infantino, who took over after Sepp Blatter resigned in June last year amid growing pressure over reports of scandal and financial mismanagement.     

The series of financial scandals have also taken a toll on governing body's profit earnings, as this week FIFA announced $122 million loss for 2015. This is the first time FIFA has reported losses since 2001.

Tagswanda group, fifa, Chinese football