WUHAN, Hubei province - The titans didn't clash.

Otherwise, basketball's governing body had nothing but praise for the Asia Championship and the game's popularity in the region.

"It's a big upset for Iran because they've been working very well for years. This is basketball. It happens. But it's no harm to the event's excitement here," said FIBA secretary general Patrick Baumann after attending the Peak FIBA global marketing strategic partnership launching ceremony on Saturday.

"Although it's disappointing for the country and its fans, I am not afraid for (the game's) development in Iran. They are working very well at the youth level, and I am sure they will come back."

After unexpectedly falling to Western Asian rival Jordan in the quarterfinal on Friday, Iran lost its bid for its third consecutive Asia Championship title and failed to earn a spot in next year's FIBA Olympic qualifying tournament for the London Games.

Baumann said the shock will help Iran be psychologically stronger next time.

Iran did recover nicely from the blow, breezing past Lebanon, 87-65, on Sunday to finish in fifth place.

"It's very hard for us (to come out). (The result is) very bad for my country, but sometimes it happens. It's basketball. It's the game," Iran's starting guard Mahdi Kamrany said.

Xu Zhihua, CEO of the Iranian team's Chinese sponsor, Peak Sports, shrugged off the negative effect of Iran's premature elimination, stressing the team's fighting spirit was the "biggest deal".

"It's normal for a strong team to lose major battles," Xu said. "We all hoped (Iran) could meet China in the final. But Iranian players have showed their fighting spirit, which we value more than the medals."

Peak Sports, China's leading sportswear company, extended its cooperation with FIBA for another five years and expanded the partnership from Asia to a large global scale.

According to the new contract, Peak, which has signed NBA players Jason Kidd and Shane Battier, will design and sell products with the "FIBA" logo and sponsor more FIBA events and national teams.

China Daily