After four long years of waiting, the prestigious 2023 FIBA Basketball World Cup is finally here.

A total of 32 countries will be vying for the world’s most prestigious ring throughout the next three weeks of an action-packed basketball fiesta.

Spain goes into the tournament as defending champions and various heavyweights will be looking to dethrone them.

Weekend Sport takes you through key things you need to know as the tournament tips off.

When and where will the FIBA Basketball World Cup 2023 take place?

The global showpiece tips off Friday, August 25, in the Philippines, Japan, and Indonesia, marking the first time the tournament is hosted by multiple nations.

Groups A and B will play their games at the SMART Araneta Coliseum in Quezon City while the Mall of Asia (MoA) Arena in Pasay will host Groups C and D fixtures.

The two games of the first round of Group A will be played in the Philippine Arena which has a capacity of accommodating 52,000 fans.

Groups E and F will hold their games at the Okinawa Arena, while Groups G and H will play at the recently inaugurated Indonesia Arena inside the Gelora Bung Karno Sports Complex.

The final phase, scheduled from September 5-10, will be held at the MoA Arena.

What is the format?

A total of 32 teams will see action, divided into eight groups of four. The tournament will start with the group phase's first round on August 25-30.

The top two teams of each group will qualify for the Second Round, while the bottom two teams will play in the classification round for 17-32 places.

The Second Round will see the top two seeds from the First Round groups converge and face one another. It will feature four groups of four teams, with the top two teams sealing their place in the quarter-finals.

The bottom two teams will compete in the classification round 9-17.

The quarter-finals will take place on September 5, serving as the opening salvo of the knockout Final Phase.

The semi-finals will be on September 8, with the two winners to vie for the biggest prize of them all in the final due on September 10.

Classification round 5-8 games will also be held in between the stretch.

Who won the last edition?

Led by MVP Ricky Rubio and an established core, Spain won the 2019 edition in China after beating Luis Scola and Argentina, 96-75, in the final.

It was Spain's second title overall, and marked another Spanish reign after previous defending champions United States bowed out of the quarter-finals.

Who has the most World Cups?

The United States and Yugoslavia each have five to lead all national teams that have ever played in the competition.

Should they win the 2023 edition, the USA will become the first nation to ever win most World Cup titles.

Can France reach the podium three times in a row?

Only Brazil, Yugoslavia, Soviet Union and the United States have done so in the history of the World Cup. France got the bronze in 2014 and 2019 and are up for another prize ahead of the 2023 edition.

Which teams have played in all World Cups?

Only the United States and Brazil have participated in all 19 editions of the World Cup since its inception in 1950.

Most points scored by a team in a World Cup game

In 1978, Brazil beat China 154-97. No team has scored more points in a World Cup game.

Newcomers?

Georgia, Latvia, Cape Verde and South Sudan are making their debut at the World Cup. That means excitement, pride, and unbridled emotion will be on full display.

Can you lose a game and still win it all?

If you look at the history of the World Cup, in 18 editions, only nine teams have won it and stayed undefeated. Argentina in 1950, USA in 1954, 1994, 2010 and 2014, Brazil in 1963, Yugoslavia in 1978 and Spain in 2006 and 2019. All the other World Champions have lost one game in the competition, even two games (Yugoslavia in 2002) and went on to win it.

The last four World Champions since 2006 (USA and Spain) did not lose a single game.

Will we see the first World Cup triple-double?

In 2019, two players came very close to posting the first triple-double ever in a World Cup game. Joe Ingles for Australia against Senegal (17 points, 10 rebounds and 9 assists) and Dennis Schroder for Germany against Canada (21 points, 10 rebounds and 9 assists).

Qualification for the Olympics at stake

All 32 teams are bent on winning the coveted Naismith Trophy.

They are also looking at securing a berth at the 2024 Paris Olympics, with seven tickets at stake in the upcoming World Cup.

Those allocated slots will be distributed to the best teams per continent, divided as follows: Two for the Americas, two for Europe, and one each for Africa, Asia and Oceania.