On 13 March 2008, the Sport Palace in the town of Vidnoye (the Moscow Region) held a press conference and announced about the first VTB Cup for basketball with the strongest female world teams participating. The tournament will be held on the threshold of the Olympic Games in Beijing from July 22 to 25 in the town of Vidnoye. The teams of Russia, Czekhia, France and Spain will be struggling to get the major prize.
"This tournament will give a window of opportunity for our team to try its strength before the major start of this year in Beijing. I hope that with VTB support our team will become absolutely ready for the Olympic Games. The present female team is one of the strongest in the history of the Russian basketball. The desire to be associated with an absolute leader was underlying our decision to support the team", - said Vasily Titov, VTB Deputy Chairman.
After the conference, the third in history Euroleague Stars Match of female basketball was held. The teams of Europe and of "The Rest World" representing by the globally recognized basketball-players took part in the game. The bright basketball show finished with the score 111:86 in favor of the team of Europe.
On 1 February 2008, VTB and the Russian Basketball Federation (RBF) signed a Sponsorship Agreement granting VTB a status of a general sponsor of the National female basketball team.
Under the Agreement, VTB will give sponsorship support to the female team in training for the Olympic Games in Beijing, and also in arranging team's matches and other events held by the RBF.