In October 2010 the International Rugby Board announced that they had concluded a 5-year deal with HSBC which granted them status as the first ever title sponsor of the World Sevens Series. Through the accord, HSBC is paying more than $100 million for the title naming rights to all the tournaments. HSBC opted to sub-license the naming rights to all but one of the individual tournaments, while retaining its name sponsorship of the overall series and the Hong Kong Sevens. The company also sponsors the Hong Kong Rugby Union and the New South Wales Waratahs team in Super Rugby. It sponsored British & Irish Lions during their 2009 tour to South Africa and 2013 tour to Australia.