AusLeisure

China-based sports marketing and event promoter, Wanda Sports Group has confirmed that is engaging in preliminary discussions on the potential sale of its Ironman triathlon business.

Media outlets reported earlier this week that Wanda Sports Group has held discussions with private-equity buyers expressing an interest in the Ironman triathlon business.

An Ironman Triathlon is one of a series of long-distance triathlon races organised by the World Triathlon Corporation (WTC), consisting of a 3.86km swim, a 180.25km bicycle ride and a marathon 42.20km run, raced in that order. It is widely considered one of the most difficult one-day sporting events in the world.

The WTC is the sports event promotion company owned by the Wanda Group, that produces the Ironman Triathlon, Ironman 70.3, the 5150 series of triathlon races, and other sports events.

The Dalian Wanda Group is reportedly now seeking US$1 billion for the Ironman triathlon business it had acquired back in 2015 for US$650 million.

However, the Group, backed by billionaire Wang Jianlin has stated that no agreement has been reached and talks may not result in a transaction.

Image of Townsville Triathlon and Multisport Festival.

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