Wanda Group, the ultimate owner of IRONMAN through its Wanda Sports entity, has interests spanning commercial property, entertainment, tourism and sports. Wanda this week unveiled its financial results for 2016. Underlining the scale of Wanda’s entire operations, overall group operating revenue grew by 3.4% in 2016 to reach RMB 254.98 billion (US$37 billion), while profit had ‘a double-digit jump’.
As a smaller part of the company’s mix of diverse interests, Wanda Group reported that sports revenue gained 9% to RMB 6.4 billion (US$932 million).
Wanda Sports Holding is billed as the world’s leading sports business entity, founded to capture the opportunities in the global sports industry and to ‘contribute to the prosperous international sports landscape’ – in three key areas: 1) spectator sports (media & marketing business), 2) participation sports (active lifestyle business), 3) services (digital, production and service business).
Infront Sports & Media – which covers all aspects of sporting events, including distribution of media rights, sponsorship, media production and event operation – integrated with IRONMAN, back in late 2015, as part of the then formed entity Wanda Sports Holding. Infront is led by Philippe Blatter, and covers all aspects of sporting events – including distribution of media rights, sponsorship, media production and event operation. As a ‘number one player in winter sport and with a leading role in football, summer and endurance sports’, Infront adds that it enjoys long-lasting partnerships with 170 rights-holders and hundreds of sponsors and media companies.
Wanda Sports Holding appointed Hengming Yang as the company’s new CEO (effective 1 November 2016) while Wanda Sports’ former CEO Philippe Blatter is the newly appointed Vice Chairman of the Board of Directors of Wanda Sports Holding.