Discover the SportAccord Summit sessions!
31 Jan 2024 23:49
Originally announced on Aug 27, Chinese conglomerate Dalian Wanda Group reached a deal to acquire World Triathlon Corp (WTC) from Providence Equity Partners for $650 million. The transaction is officially completed on Thursday and WTC is now fully owned by the Chinese company.
The 2015 acquisition of WTC and Infront Sports & Media properties has made Wanda Group one of the world’s largest and most comprehensive sports companies.
“The acquisition of Ironman by Wanda Group is a momentous step for the future of our brand,” said Andrew Messick, Chief Executive Officer for Ironman. “As a globally minded company with a mutual desire for excellence and expansion, especially in Asia, Wanda is the ideal partner. I’m privileged to remain at the helm of this extraordinary organization as we embark on this new chapter in our history. Thank you to Providence Equity Partners for seven outstanding years of ownership.”
WTC, organizer of the Ironman triathlon series, has 91% share in the long-distance triathlon market.
Despite boasting the world's biggest population, the triathlon is still an underdeveloped sports program in China, with only around 100 amateurs competing in most events.
Wanda plans to promote the sport on TV to attract 200,000 regular amateur participants in China within 10 years. Wanda chair Wang Jianlin said triathlons will be held in at least three Chinese cities in 2016.
Source: Xinhua
Future of Sport: A Global Sports Week x Viva Technology Collaboration, Will Open in June 14
12 Jun 2023 14:59
Related coverage
John Barnes comes for Liverpool’s China trip
02 Jan 2016
European soccer club deals signal renewed China interest
03 Feb 2015
Equestrian sports come into fashion in China
18 May 2015
Arena holding hands with Zhejiang Swimming Team
15 Apr 2015
Guangzhou FA splits from local sports bureau
26 Nov 2015
More from Yutang Sports
Registration open - SportAccord World Sport & Business Summit
18 Dec 2023
Gender equality will be reflected at OBS's coverage of the Paris 2024 Olympic Games
16 Apr 2024
Leading legal minds tackle athlete representation and rules for transgender athletes at LawAccord
16 Feb 2024
SportAccord’s conversation with FEI President Ingmar De Vos: Equestrian sport’s road to Versailles
22 Apr 2024
SPORTACCORD 2024 INSIGHTS: Harnessing the Soft Power of Sport
13 May 2024
Yutang Sports
loading...