Fabio Azevedo, the newly elected president of the International Volleyball Federation (FIVB), has praised the influence of investment firm CVC Capital Partners on the growth of the sport, and said that it will play a major role in the governing body’s “Strategic Vision 2024-2032” which was unveiled prior to the election.
Speaking at a roundtable attended by Sportcal (GlobalData Sport), Azevedo said: “Partnering with CVC completely professionalized our commercial arm. This moved our sport to the next level.”
Azevedo also commented that in the future, the FIVB’s growth trajectory will allow dividends from Volleyball World, the commercial joint venture set up with CVC, to increase.
At the 39th FIVB World Congress, which took place in Porto, Portugal across November 15-17, the FIVB not only voted on Azevedo’s ascension, but the FIVB congress also approved plans to uplift revenue distribution as prize money from the current total of 53%, up to 59% over the next two years.
The CVC deal, Azevedo claims, has taken the body which was valued at around $300 million in 2021 on a growth trajectory for a $1.4 billion valuation in 2032 after the coming two Olympic cycles.
Azevedo also identified Japan as a key market for the future of the sport, going so far as to reveal that the country is in discussions to host the FIVB World Championships in the future.
He said: “We are planning to have big events in Japan in the near future. Japan has already applied for the Volleyball Nations League. We're discussing with them even for the World Championships. So yes, great plans for Japan.
“Japan is one of the key countries of volleyball in the world and Asia is 52% of our worldwide firm base. So obviously Asia and Japan are of our focus.”
Reinvestment in the product itself is one of four core tenets of the Strategic Vision, alongside sustainability initiatives, and the general promotion of volleyball and beach volleyball respectively.
The main goal of the Strategic Vision 2024-2032 that Azevedo campaigned on is to double the global volleyball fanbase, which the body claims is currently “800-million-strong”.
This will come, it says, through the expansion of the body’s international reach and strengthening of its “professional standards.”
Breaking down the current revenue structure of the body, Azevedo explained: “In terms of the mix of revenue nowadays, sponsorship is responsible for about 10-15%, and we believe that it can grow. About 35% of our mix of revenue is hosting fees. 35% is media rights distribution and betting. And then we have 5% which is our OTT channel.”
Azevedo was elected to replace outgoing president Ary da Silva Graça Filho (Ary S. Graça F°), aged 81, who had served as FIVB president since 2012.
Azevedo’s eight-year term will take him through the 2032 Olympics.
