The agreement was announced at FIFA headquarters in Zurich, in the presence of new FIFA President Gianni Infantino.

"I am very pleased and proud that I came today announce a new sponsor, a new partner for FIFA, and this new partner for FIFA is coming from China, and it's the Wanda Group. We've just signed one hour ago, and the partnership agreement between the Wanda Group and FIFA. And I'm very proud as the FIFA president to welcome Wanda to the FIFA team."Under the partnership, Wanda Group will have the highest level of sponsorship rights, which includes the next four FIFA World Cups.

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The financial size of the partnership has not been revealed, but it is believed to be one of the biggest in FIFA's history.

Wanda Group chairman Wang Jianlin is on record saying that he hoped their cooperation with FIFA will enhance the development of soccer in China,Wanda Group currently operates in a number of sectors including property, retail, sports, hotels, film and stores.

Last year, Dalian Wanda purchased a 20% stake in Spanish La Liga football team Atletico Madrid, while fellow Chinese company CMC took a 13% stake in the parent group of Manchester City.

Gianni Infantino says it's a strategic plan for FIFA to team up with a Chinese company because of the vast market potential.

"It is an important contract I can tell you, and you know I been signing in my past life so many important contracts but this one is very very important and it makes me very very happy. I am looking forward to this partnership, because it's obviously also an important strategic partner for the future, ink a company from China, which is obviously a very important country."It is the first big deal signed under FIFA President Gianni Infantino's reign, and the first since the scandals that engulfed the organization.

He said the Wanda partnership will help with the continuing development and growth of the game in China and elsewhere.

Though the scandal has brought significant losses to FIFA, including legal fees, Infantino is confident about the organization's future.

"I cannot change the past but I can influence the future, together with the executive committee, together with the council, together with the association, together with you as well, we can influence the future, and make sure that we will face all the challenges, and turn them into opportunities."