Cycling: There have been repeated rumors that Chinese billionaire Wang Jianlin, owner and CEO of Wanda Sports, has his eye on the ASO and the Tour de France. Today the Wall Street Journal reports on initial talks and considerations regarding a takeover. Another announcement this week makes that scenario far more likely.
The Chinese multi-billionaire Wang Jianlin (assets: around 30 billion euros) is one of the richest people in the world and, as CEO of the Dalian Wanda Group, is probably at least as influential as he is wealthy. Although Wanda Group's core business is real estate, in recent years the listed company has been increasing its investments in sports. The Spanish football club Atlético Madrid, for example, is 20% owned by the Chinese mega-corporation and last August it also bought the World Triathlon Corporation, the organizer of the Ironman series.
Again and again there were rumors that the Wanda Group was very interested in buying the ASO - as the owner and organizer of the Tour de France and co-organizer and owner of numerous other races and tours, the French sports company is probably the heavyweight in cycling. In today's issue, the Wall Street Journal again reports on deliberations and talks pointing to a takeover of the Amaury Sports Organisation. However, it is still only a question of considerations and concrete talks have not yet taken place, the US business newspaper reports.
The matter is particularly piquant because Wanda Sports also took over the sports marketing giant InFront Sports & Media in February last year. Just a few days ago, Velon, the merger of eleven WorldTour teams, gave one 10-year cooperation with just InFront Media known. Of course, this could all just be a big coincidence - but it seems highly unlikely. Velon CEO Graham Bartlett was cautious about such plans to the Australian cycling portal Cyclingtips: “In the future there will certainly be many discussions with the wider area of InFront Sports & Media. Of course, that includes Wanda Sports.” These statements really don't sound like a denial.