Infront Media, the sports rights company run by the nephew of FIFA President Sepp Blatter, Philippe Blatter, "has been sold" for €1B ($1.2B) to China’s second richest man, according to Ashley Armstrong of the London TELEGRAPH. Wang Jianlin, who controls Chinese property and entertainment giant Dalian Wanda Group, "won an auction to buy the sport marketing buiness from private equity firm Bridgepoint." The deal "will mean a considerable windfall for Bridgepoint," which has owned the Zug-based company since paying around €550M for it in '11. Wang "is known to be a big football fan and owned one of China’s most successful teams from 1994 to 2000" (TELEGRAPH, 2/10). REUTERS' Matthew Miller wrote the acquisition "will see Wanda Group, China's largest property developer which also controls the country's largest cinema chain, take a 68.2 percent stake in Infront." Wanda execs said that three unidentified Chinese and global investors "will take the remaining minority stake." Dalian Wanda Chair Wang Jianlin said, "This purchase allows Wanda to become a global leader in the sports industry in a single bound. In addition to Infront, Wanda will buy at least two cultural companies this year" (REUTERS, 2/10). In Hong Kong, Celine Sun wrote the deal "is seen as the opening shot" in a campaign for China to host the FIFA World Cup. Wang cited Chinese President Xi Jinping's three-step plan to develop football in the country -- "to qualify for a World Cup, to host a World Cup and to win a World Cup." Wang said, "The acquisition of Infront would be helpful in shortening the time to achieve these three goals." Wanda's acquisition "is also tipped to support China's bid for the 2022 Winter Olympics as Infront now represents all seven Olympic winter sports federations" (SOUTH CHINA MORNING POST, 2/10). The AFP reported Wanda "is looking to diversify from the property business as Chinese
economic growth slows and real estate prices slump in many cities across
the country." Marketing agency Total Sports Asia Founder & CEO Marcus Luer said he would be "very surprised" if FIFA did not give China the 2026
World Cup. Luer: "Why wouldn't you go there? To me it's a no-brainer to go to China" (AFP, 2/10).
