"BIOVELA Group continues strategic partnership with Lithuanian Basketball Association

"BIOVELA Group and the Lithuanian Basketball Association have signed one of the largest support agreements in the history of basketball in the country: the partnership has been extended for another five years - until 2029. From 2020 onwards, the company will continue to be one of the most important pillars of Lithuanian basketball, contributing not only to the national men's and women's teams, but also to the development of the entire sport, from children's teams to youth teams.

A significant step for Lithuanian basketball

The decision to extend the contract is not only a financial commitment, but also a continuation of our values - to strengthen the community, to support the sport and to grow with the country's achievements. This agreement stands out as one of the most solid and longest lasting sponsorship agreements in the history of the Association.

"As a long-standing leader in the food industry in Lithuania, we understand the importance of consistency, quality and trust - values that bind us to Lithuanian basketball. This partnership started in 2020 and today we are proud to extend it for another five years. This is not just a sponsorship agreement - it is our conscious commitment to contribute to the development of sport, the education of young people and a healthier society. We are pleased to be not only a general but also a trusted partner of this community," says Audrius Kantauskas, Chairman of the Board of BIOVELA Group.

The long-term cooperation with the association reflects BIOVELA Group's strategic approach to social responsibility. The company's participation in sports initiatives shows not only its support for professional sports, but also its concern for the education of young people and the active development of the community.

In the last five years alone, 6-7 youth national teams have been supported each year, representing hundreds of young basketball players representing Lithuania at international championships. Around 2000 unique athletes - both men and women - represent Lithuania in different age categories and professional leagues every year, and the partnership gives them a strong foundation to grow.

Growing together: from trust to results

The Lithuanian basketball community also appreciates this direction. According to Mindaugas Balčiūnas, President of the Lithuanian Basketball Association, this is one of the most important and strongest partnerships in the history of Lithuanian sport. "We are sincerely grateful to this Lithuanian capital company and its managers for their trust and loyal support. The exclusive and long-term cooperation between the Lithuanian Basketball Association and BIOVELA Group started five years ago. It has been a wonderful journey that has shown mutual trust and we have learned a lot from this partnership. During this period, we have developed a strong bond and achieved significant results together. This support allows the Lithuanian basketball system to grow in a targeted way and to improve the training of its athletes," says Balčiūnas.

Highlights include the men's team's sixth place at the World Championships and the women's team's return to the European Championships after a decade, finishing eighth overall. These results are a reflection of consistent system-wide work, long-term partnerships and dedicated support.