The Asian Football Confederation (AFC) and World Sport Group (WSG) will work together for the next decade and beyond after signing an agreement expected to deliver more than US$1 billion in revenues to the AFC.

The contract will run from 2013, at the end of the current agreement between the AFC and WSG, until 2020, a period that takes in the AFC Asian Cup in 2015 and 2019. WSG has been the exclusive commercial partner of the AFC since 1993, the year in which it established  a landmark agreement to market Asian soccer's marketing and television rights.

Also covered under the new deal will be the newly revamped AFC Champions League, the Asian qualifying rounds for the Fifa World Cup 2014 and 2018, and the Asian final qualifying competitions for the 2016 and 2020 Olympics.

"Asian football is scaling new heights and it is AFC's pleasure to renew our tight relationship with WSG, who were the first ones to recognise the incredible potential of the Asian game. This is a landmark deal and shows what Asian football is capable of achieving," said AFC president Mohamed Bin Hammam. "WSG have been steadfast in their commitment to AFC and have played a significant role in popularising the Asian game worldwide. This has been a very productive partnership for both sides and we look forward to more of the same in the new cycle."

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Seamus O'Brien, chairman and chief executive of the World Sport Group, added: "In 1993, we made a commitment together with the AFC to take Asian football to the world. Today, in just over a decade and a half, the value of Asian football has grown ten-fold and it has earned its rightful place on the international stage. The sport and its governing body is being supported by a group of the most distinguished brands and media companies who have benefited from the sport and this partnership. Its events are being watched and followed throughout the world, not just in Asia, by billions of passionate fans and viewers.

"We look forward to another decade of partnership with the AFC, and to continue growing Asian football on a global level for our clients and fans everywhere."