Dalian Wanda to Purchase World Triathlon Corporation to Further Develop Sports Industry
Dalian Wanda Group one of the leading Chinese private conglomerate reached an agreement that will acquire 100 percent of the World Triathlon Corporation for $ 650 million. The acquisition is another investment of Dalian Wanda in the sports sector after they purchased Infront Sports and Media and Atletico Madrid. This new acquisition will bring in top international competition to China for the first time and mark a key milestone in the development of China’s sports industry. After the purchase Dalian Wanda will be the largest sports operating company in the world.
Triathlons are the pinnacle of world sports and are officially included in the Olympics, as they comprised of three disciplines namely cycling, swimming and running which is completed in succession. In the United States Alone there are over 480,000 people participating in triathlon events in over 4400 separate races that are held each year. based in Tampa, Florida the World Triathlon Corporation is the largest operator of Ironman events and the most well known Ironman brand as the owner of the sporting brand and operator of the competition WTC accounts for 91 percent of the global share of all triathlon events.
Dalian Wanda’s acquisitions are part of its multiple strategic goals, first Wanda is expanding the industry scale of Wanda sports which at present a major global sports industries are loosely situated in Europe and America and acquisitions is the only way for companies to scale up efficiently. Second the acquisition enables Wanda to secure core resources and assets in the global sports industry, as triathlons are the jewel of world endurance sports and WTC exclusively owns most of the major global triathlon brands. Third this acquisition will complete the formation of comprehensive sports business for Dalian Wanda as they fully built a full industry value chain that includes event organizing, event marketing, athlete representation and rebroadcasting that enhances the company’s influence in the global sports
Triathlons is gaining popularity in China and as the country enters the ranks of middle income countries, people are interested in doing physical fitness and spiritual fulfillment and the triathlon’s charm and challenge is attracting a large number of people to the sport.