Singapore is set to host the FIBA Intercontinental Cup later this year ©Getty Images

Singapore is set to stage the International Basketball Federation (FIBA) Intercontinental Cup after a deal was announced between the governing body and Sport Singapore.

The Singapore Sports Hub in Kallang is set to become the first venue in Asia to host the event as it prepares to stage the 33rd edition from September 21 to 24 this year.

The three-year deal also involves Asia for the first time.

"This agreement serves both as the realisation of a basketball dream that dates back generations as well as a launchpad into the future era of global club basketball," said FIBA secretary general Andreas Zagklis.

"Singapore, as a melting pot of cultures, is perhaps the ideal place to bring that vision to life.

"The first edition of the FIBA Intercontinental Cup in 1966 was an inspired event conceived by visionaries.

"They envisioned a competition that would assist in uniting different cultures through basketball but only dared to dream that one day the event would develop to the point where clubs from all corners of the globe compete in it."

The amount of competing teams is set to expand from four to six.

A Chinese club, jointly selected by FIBA and the Chinese Basketball Association, will join four sides that represent four continental leagues.

The quartet will include the victors from the 2023 Basketball Africa League, Europe's Basketball Champions League, the Basketball Champions League Americas, and National Basketball Association (NBA) G League Ignite.

"The FIBA Intercontinental Cup is an important showcase for top club teams from outside the NBA and reflects the strength of professional basketball leagues around the world," said NBA deputy commissioner and chief operating officer Mark Tatum.

"We're excited that NBA G League Ignite and the champions of the upcoming third season of the Basketball Africa League will be represented at this year's tournament in Singapore, where we recently opened an office and where there is growing affinity for the game."