Dalian Wanda bids US$1b for Infront
Print Edition
THE Dalian Wanda conglomerate of Chinese billionaire Wang Jianlin has bid around US$1 billion for influential sports marketing giant Infront Sports & Media, according to a report yesterday.
The tycoon, who recently hit the headlines when he bought a 20 percent stake in Spanish football champions Atletico Madrid, has confirmed his interest in sports business by bidding some 1 billion Swiss francs (US$1.09 billion) for Infront, Swiss public broadcaster RTS reported, quoting “sources close to the deal.”
Infront, a sports marketing company based in Zug, Switzerland, and directed by Philippe Blatter — the nephew of FIFA chief Sepp Blatter — handles the media and marketing rights for many international sports events.
If the deal is real and goes through, Dalian Wanda would enter the sport business big league.
Infront is set to rake in several hundred million dollars on the next two football World Cups — in Russia in 2018 and in Qatar in 2022.
The company, which counts some 600 employees across 12 countries, is also heavily present in all aspects of sports marketing, with sponsoring activities like advertising around sports halls and stadiums. It also handles media finances for many football clubs.
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