Wanda Group gets deeper into sports industry

Chinese billionaire Wang Jianlin, the chairman of Wanda Group, lately revealed his plan to buy another 2 or 3 sports companies to enhance the presence in sports industry at the Annual Summit of China Green Companies, reported on April 28.

The Chinese tycoon, as it stands, has huge interest in sports industry as Wanda Group has already bought 20% stakes of Atlético Madrid and acquired the global leading sports marketing company—Infront.

Wang disguisedly announced his ambition in building a top brand in sports industry at global stage.

Wanda's efforts in sports industry would be empowered by approaches to the existing sports brands.   

Despite Wang did not give a particular name of their targets, Wanda is definitely interested in dominating the significant part of sports industry chain, which is to gain rights of core sports events and marketing rights.

Wanda's progress in sports domain has triggered curiosity about whether Wang would potentially invest on CSL teams in the coming days or not.

But until now there has no strong evidence showing Wang Jianlin would take similar approach as Jack Ma once did to Guangzhou Evergrande Taobao FC.

Source: Yangcheng Evening News