{"id":8176,"date":"2021-05-07T13:53:22","date_gmt":"2021-05-07T13:53:22","guid":{"rendered":"https:\/\/www.sportsnewsforyou.com\/?p=8176"},"modified":"2021-05-07T13:53:22","modified_gmt":"2021-05-07T13:53:22","slug":"ironman-bought-by-chinas-wanda-group-for-650m","status":"publish","type":"post","link":"https:\/\/googmn.com\/?p=8176","title":{"rendered":"Ironman bought by China&#8217;s Wanda Group for $650m"},"content":{"rendered":"<p ><strong>It\u2019s official \u2013 Ironman has been acquired by Chinese conglomerate Dalian Wanda Group for $650m, joining football club Atl\u00e9tico Madrid on the latter\u2019s roster of investments in Western sports enterprises.<\/strong><\/p>\n<p>    Advertisement<\/p><\/div>\n<\/div>\n<\/div>\n<p >The news broke early this morning, and Wanda Group assumes Ironman\u2019s existing \u2013 unspecified \u2013 debts from current owner Providence Equity Partners.<\/p>\n<\/div>\n<p ><em>The finish chute at the Ironman World Championship in Hawaii (Paul Phillips)<\/em><\/p>\n<div    >\n<\/div>\n<\/div>\n<p >Ironman CEO Andrew Messick said: \u201cWanda Group\u2019s acquisition of Ironman marks another exciting chapter and opportunity for the future growth of Ironman after seven very successful years of ownership by Providence Equity Partners.<\/p>\n<p >\u201cWanda Group is a global-minded organisation that shares our desire for excellence and continued growth, particularly in Asia. We are delighted to be part of the Wanda Group family of companies and are excited about the future of Ironman as we continue to provide life changing race experiences for athletes of all levels from their first step to the finish line.\u201d<\/p>\n<p >There\u2019s certainly plenty of headroom for growth in the Far East \u2013 just 100 Chinese athletes have completed an Ironman race in the history of triathlon, a company spokesperson told the <em>Wall Street Journal<\/em>.<\/p>\n<\/div>\n<p >Industry watcher Gary Roethenbaugh, founder of news source <em>Triathlon Business<\/em>, believes the acquisition represents a \u201cmajor shift in gear\u201d for the M-Dot brand.<\/p>\n<p >\u201cWhile it is understood that it will be business as usual for the Ironman team in Tampa, Florida \u2013 with Ironman now part of the rapidly expanding Wanda Group, we can expect to see a flurry of activity for Ironman and IM 70.3 in the Asia region in particular.\u201d<\/p>\n<p >During the announcement, Ironman also revealed it expects to generate revenues of $183m in 2015, and has increased revenue at a compound annual growth rate of 21% over the past four years.<\/p>\n<\/div>\n<p >More information and comment to follow\u2026\u00a0<\/p>\n<p >(Main image: Getty)<\/p>\n<p>    Advertisement<\/p><\/div>\n<\/div>\n<\/div>\n<p ><em><strong>What do you think? Let us know in the comments below!<\/strong><\/em><\/p>\n<\/section>\n<p>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\tClick Here: <a href='https:\/\/www.jerstores.com\/Others-Countries-Nrl\/Ireland-IRFU\/Munster-Rugby-Jersey' title='munster rugby shirts'>munster rugby shirts<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>It\u2019s official \u2013 Ironman has been acquired by Chinese conglomerate Dalian Wanda Group for $650m, joining football club Atl\u00e9tico Madrid on the latter\u2019s roster of investments in Western sports enterprises. Advertisement The news broke early this morning, and Wanda Group assumes Ironman\u2019s existing \u2013 unspecified \u2013 debts from current owner Providence Equity Partners. The finish&#8230;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-8176","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/googmn.com\/index.php?rest_route=\/wp\/v2\/posts\/8176","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/googmn.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/googmn.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/googmn.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/googmn.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=8176"}],"version-history":[{"count":0,"href":"https:\/\/googmn.com\/index.php?rest_route=\/wp\/v2\/posts\/8176\/revisions"}],"wp:attachment":[{"href":"https:\/\/googmn.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=8176"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/googmn.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=8176"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/googmn.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=8176"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}