IRONMAN Sold For $650 Million To Chinese Company

Dalian Wanda Group Co., Ltd. ("Wanda"), one of the leading Chinese private conglomerates, has reached an agreement to acquire 100 percent of the World Triathlon Corporation for $650 million. The acquisition by Wanda heralds yet another landmark investment in the sports sector following Infront Sports & Media and Atletico Madrid.

This acquisition will bring a top international competition to China for the first time and marks a key milestone in the development of China's sports industry. Following the acquisition, Wanda will become the largest sports operating company in the world.

Triathlons are regarded as the pinnacle of world sport. Officially included in the Olympic Games, they are comprised of three disciplines, swimming, cycling, and running, completed in succession. The schedule is long and grueling, and tests athlete's fitness, stamina and skill, making it one of the most stimulating, challenging and watchable extreme sports in the world. IRONMAN is a triathlon completed within a strict time limit, and is a popular global sporting event that is split into different levels according to age and ability. In the U.S. alone, more than 480,000 people participate in triathlon events, with more than 4,400 separate races held each year.

More: 3x IRONMAN World Champ Mirinda Carfrae Talks PEAR, Kona, Women's Racing and Doping

WTC is headquartered in Tampa, Florida. It is the world's largest operator of IRONMAN events and the most well-known full-distance brand; as the owner of the sporting brand and the operator of the competition, WTC accounts for a 91 percent global market share of long-distance triathlon events. WTC has organized, promoted and licensed triathlon events for 37 years, and owns five exclusive triathlon brands, operating at least 250 events every year around the world. Its flagship brands are IRONMAN (2.4 mile swim, 112 mile bike, 26.2 mile run) and IRONMAN 70.3 (1.2 mile swim, 56 mile bike, 13.1 mile run) and are the world's largest competition participation platforms-- holding more than 130 races with more than 230,000 competitors. WTC's gross revenue has risen at a CAGR of 40 percent for four consecutive years, while net profit has grown at 40 percent a year. Due to its strong brand and unique business model, the company is expected to maintain a high visibility and shows fast-growing future business prospects.

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About the Author

Michael Nystrom

Michael Nystrom is the triathlon editor for Active.com. A California native, Michael graduated from the University of Southern California with a master's degree in journalism. He has done several sprint- and olympic-distance triathlons, raced Ironman 70.3 California and raced Ironman 140.6 Arizona. Follow Michael on Twitter, Instagram or LinkedIn.

Michael Nystrom is the triathlon editor for Active.com. A California native, Michael graduated from the University of Southern California with a master's degree in journalism. He has done several sprint- and olympic-distance triathlons, raced Ironman 70.3 California and raced Ironman 140.6 Arizona. Follow Michael on Twitter, Instagram or LinkedIn.

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