VivaTech takes the stage as the world's leading event for tech and startups
19 Jun 2023 18:33
Beijing and Zhangjiakou beat Almaty, Kazakhstan by a vote of 44 to 40 for the right to host the 2022 Winter Olympics.
As one of the most active players in sports field, Wanda Group has been investing heavily in winter sports projects since the turn of the year.
In early February, Wanda has reached an agreement to acquire Infront Sports & Media AG, the world's most respected international sports marketing company based in Switzerland at approximately EUR 1.05 billion, which enables the company to have the broadcasting rights to Winter Olympics and agency rights to seven winter sports. The Chinese conglomerate also invested 20 billion yuan to build a cultural and tourist center in Harbin, equipped with world's largest indoor ski slope, movie theatre and hotel compound.
Beijing Hualu Baina Film and TV Inc (HNB) recently also announced a strategic partnership deal with local authorities in Hebei Province. The agreement will see a capital injection of 1 billion yuan ($161 million) from HNB into projects in Zhangjiakou, a city in Hebei province that lies 200 kilometers northwest of Beijing and one of the event venues for 2022 Winter Olympics. The investment is primarily for upgrading the winter sports facilities in the city, said the company.
Related coverage
Wanda Sports sets up global HQ in Guangzhou
29 Dec 2015
China’s changing attitudes towards investing in overseas sports properties
08 Jan 2018
Wanda to buy Infront with 1 billion Euros
03 Feb 2015
Ten predictions for 2015 Chinese sports industry
04 Jan 2015
Granada CF sale completed in Barcelona
16 Jun 2016
More from Yutang Sports
SPORTACCORD 2024 INSIGHTS: How Gaming is Changing our World
07 May 2024
SPORTACCORD 2024 INSIGHTS: Sport’s Perfect Storm
23 May 2024
Interview with Andreas Zagklis: to keep popularization of basketball with all-round strategy
08 Jul 2024
Interview with Yiannis Exarchos: to narrate Olympic story in new ways and promote positive values
01 Jul 2024
Expert insight | New changes on UEFA EUROs: growing maturity of Hisense and other Chinese brands
22 Jul 2024
Yutang Sports
loading...