Wanda looking for more opportunities to build sports business sector

Dalian Wanda Group has a particular interest in the Chinese and broader Asian markets, but also sees opportunities in North America. It is understood that Thursday’s acquisition of the World Triathlon Corp. for $650M was just the start. 

"There’s an appetite for acquisitions," said Jörg Polzer, director of corporate communications at Infront Sports & Media. The sports marketing agency, which was acquired by Wanda in February, was instrumental in the takeover of WTC. The agency has been a partner of the WTC since 2011 and established the connection between WTC owner Providence Equity Partners and its ownership.

Due to the increasing popularity of endurance and active lifestyle events in China and Asia, WTC was a perfect match for Wanda, according to Infront. However, lifestyle and mass participation events are just one example. Wanda and Infront are looking into all areas. 

"There is also a huge demand for promoting winter sports in China," Polzer said. The demand is likely to have increased even more after the IOC awarded the 2022 Winter Games to Beijing in July. 

Infront, as the leading agency in the field of winter sports, expects to play an integral part in the growth of the business in the market. It is already supporting certain projects in the region, including ice hockey, curling and speed skating. Another target sport is football, especially since the Chinese government publicly stated its desire to raise the competitiveness of the national team.

These are all areas in which Infront and Wanda can leverage their individual expertise to promote the sports. 

"Our growth strategy is to further increase and diversify our rights and service portfolio, and capture the various opportunities in the international sports entertainment market," Polzer said. "And Wanda is actively supporting Infront’s vision and growth strategy." 

The Switzerland-based agency is active in 25 sports and operates in most parts of the world. Infront has been operating in China for more than 10 years, where it is promoting the Chinese Basketball Association and its two main properties -- the Chinese national team and the CBA professional league. 

The U.S., the world's biggest sports market, is one of the few areas where Infront is not present with its own business. Though operating some events in North America, it is another growth market for the agency and its ownership group.

Taken from Sportsbusiness Daily