China-based Wanda Group proposes to build the "world’s most profitable sports company," according to GULF TODAY. Chinese billionaire Wang Jianlin is planning to build the sports company as China "gears up to host the 2022 Winter Olympic Games." Wang, who heads the country’s largest real estate developer Wanda Group, said that he planned to add “new content” to Wanda Sports to make it a company with an annual income of $10B. Wang said, "We plan to keep merging and add new content into our sports branch. Wanda Sports aims to become the world's first sports company with an annual income of more than $10 billion." Wang's comments came after the Chinese government "mapped out a plan last year, aiming to grow the country's sports sector" into a $813B industry by '25. Wang: "If the goal is realized, sports really is a very promising industry." Wanda Group also announced that Philippe Blatter, FIFA President Sepp Blatter's nephew, "has been appointed as president and CEO of Wanda Sports, a sports company also established by the group" (GULF TODAY, 11/30).
