China’s Dalian Wanda buys Ironman triathlon brand for $650M

Wanda said in a statement Thursday that it's paying $650 million for Tampa, Fla.-based World Triathlon Corp. as it forecasts explosive demand in China for the sport.

By: AP | Hong Kong | Published: August 27, 2015 9:11:16 am
Ironman, Ironman triathlon, Dalian Wanda, Dalian wanda buys Ironman, Ironman Triathlon news, Ironman sport, World news FILE – In this Aug. 10, 2014, file photo, Lionel Sanders, from Hamilton, Ontario, heads toward the finish line as he wins the men’s pro division of the Maytag Steelhead Ironman 70.3 Triathlon race at Jean Klock Park in Benton Harbor, Mich. When life was at its most bleak, Sanders sought solace in what he knew best. He ran. Every day for a month straight, he ran, the first steps out of a life of using hard drugs to becoming one of the world’s top young professional triathletes. (Don Campbell/The Herald-Palladium via AP)

Chinese property and cinema giant Dalian Wanda Group says it’s buying the company that owns the Ironman triathlon brand and race series.

Wanda said in a statement Thursday that it’s paying $650 million for Tampa, Fla.-based World Triathlon Corp. as it forecasts explosive demand in China for the sport.

The acquisition adds to Wanda’s sports investment portfolio, which includes Swiss marketing firm Infront Sports & Media and a stake in Spanish champion football team Atletico Madrid.

The company said its purchase “will bring a top international competition to China for the first time.”

Wanda is controlled by one of China’s richest people, Wang Jianlin. It bought the U.S. movie theatre chain AMC in 2012.

Start your day the best way
with the Express Morning Briefing

For all the latest World News, download Indian Express App

Advertisement
Advertisement
Advertisement