AusLeisure

Chinese entertainment and real estate company the Dalian Wanda Group has announced that it is to merge its Infront Sports & Media agency and World Triathlon Corporation (WTC) into a newly formed entity named Wanda Sports Holding.

Having acquired both businesses during 2015, they will now be rebranded with Infront’s President and Chief Executive, Philippe Blatter, stepping up to lead the new with the top management of both Infront and WTC, parent company of the Ironman triathlon series, remaining in place.

With three core business pillars of spectator sports (media and marketing business), participation sports (active lifestyle business) and services (production, digital and service business), Wanda Sports will seek to build on the strategies of Infront and WTC.

With holding company based in China, Wanda Sports’ operational headquarters will be in Zug, Switzerland.

The active lifestyle business will be led by WTC Chief Executive Andrew Messick and will be based in Tampa, Florida, USA.

The announcement follows the formal closing last week of WTC’s acquisition by Wanda Group with the US$650 million deal for WTC giving Dalian Wanda a 100% stake in the corporation.

The Ironman series comprises 180 long-distance triathlons in more than 20 countries around the world. WTC accounts for 91% of the global market share of long-distance triathlon events. Ironman competitor John Gills purchased the franchise in 1989 before selling to US private equity investment firm Providence Equity in 2008 for an undisclosed amount.

Dalian Wanda completed its acquisition of the majority shareholding in Infront Sports & Media in July. The shares were acquired from Bridgepoint, the European private equity firm, with the transaction valued at approximately US$1.17 billion.

Wanda Group Chairman Wang Jianlin, often described as China's richest man, commented “Wanda has a very high expectation for the development and prospects of the sports industry.

“The significance of establishing Wanda Sports is not only to integrate Wanda's interests in sports, but also to truly expand and strengthen Wanda's businesses in the industry, while at the same time grasping the rapidly growing opportunities in the Chinese sports market.

“We want to truly impact the development of sport around the world.”

In the following months, the management of Wanda Sports will further review the entity’s structure in a bid to maximise strategic alignment with further details expected to  be announced in the first quarter of 2016.

Lower image: Wang Jianlin.

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12th November 2015 - WANDA GROUP PLAN NEW GOLD COAST THEME PARK

11th September 2015 - DALIAN WANDA BUYS IRONMAN TRIATHLON GROUP FOR US$650 MILLION

13th February 2015 - CHINA’S WANDA BUYS INFRONT SPORTS & MEDIA FOR US$1.2 BILLION

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