Under the terms of the deal, the FTSE 100 company will back all of British Basketball's senior men, senior women, men's under-20s and women's under-20s teams through the run-up to the London 2012 Olympics until 2013. Standard Life will also back grassroots basketball.
"We have worked hard over the past three years to attract a partner who would not only benefit the sport but more importantly believe in the goals we have set, and we feel that Standard Life more than fits those criteria,” said Simon Tuckey, British Basketball's commercial director.
"The senior men's and women's programmes have made impressive strides since 2007, indeed the men will play at the European Championships this September, and Standard Life's involvement shows that people are taking note of our results and our desire to be a force to be reckoned with in three years time."
Highlights this week’s four-nation Game On tournament in London’s O2 arena will be aired on Sky Sports 3 in the UK on August 17.
