The Chinese giant Wanda has decided to create a company just for sports, Wanda Sports, integrating the sports rights company Infront, acquired in February as Triathlon Corporation, owner of the rights of tests as Ironman endurance sports, which it bought in August.
Published today by the official news agency Xinhua, Wanda, who started his career as a real estate company, will put at the controls of the sports company to Philippe Blatter, nephew of the president of FIFA, Sepp Blatter, and who looked after Infront.
"The importance of creating Wanda Sports not only lies in integrating the interests of Wanda in sports, but to expand the strength of Wanda in the industry," said company chairman, billionaire Wang Jianlin, as reported by Xinhua.
Wanda bought the Swiss Infront, one of the largest global companies of sports rights, by 1,050 million euros (1,200 million dollars) in February, and months later, in August, took Triathlon Corporation, which owns the rights to sports events resistance as Ironman, for $ 650 million.
Earlier this year also announced its entry into the capital of Atletico Madrid, current champion of the Spanish Football League, with a share of 20%.
"Wanda Sports plans to become the first global sports company with annual profits of more than 10,000 million dollars," Wang moved.
The businessman said that although the sports industry is still in its infancy in China, the government has launched a plan to promote and reach 5 trillion yuan (813,000 million dollars) for 2025, a scenario that looks "promising" .
That reef seems to have also seen the e-commerce giant Alibaba, which this year paid $ 192 million to acquire 50 percent of Guangzhou Evergrande, the Chinese football's most successful team, and also created a subsidiary in September devoted solely to sports.
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