Samstag, 8. August 2015

Dalian Wanda Group in talks to acquire World Triathlon Corporation andIRONMAN triathlon for $850 million

According to South China Morning Post, Dalian Wanda Group, owned by China's richest man Wang Jianlin is in talks to acquire IRONMAN's parent company World Triathlon Corporation (WTC). An mass participation sports asset would follow other acquisitions in the sports and media segment. Switzerland based sports marketing firm Infront Sports & Media was bought for EUR 1.05 billion in February 2015. A group, that was interested in  WTC itself, but walked away from a deal. [1]

Maybe Infront's parent company can close a deal, certainly on a much lower price, than introduced from South China Morning Post. Not very reasonable sounds the "very high" price tag of $850m, considering assumed obligations like the $220m loan (due 2021) to pay a dividend to it's current owner Providence Equity partners and a $20 revolver due 2019 on WTC's balance sheet. Rating agency Moody's Investors Service has assigned a B2 Corporate Family Rating (CFR) and B2-PD Probability of Default Rating (PDR) to World Triathlon Corporation ("WTC" or "the company") in 2014. [2]

South China Morning Post wasn't able to get a confirmation from any involved party, but several of our own insider sources confirmed the negotiations and a very specific time window to close the deal around 10th of August 2015:

Dalian Wanda outbid other potential buyers for Ironman and is now in negotiations to finalise a deal with its owner, private equity firm Providence Equity Partners, the person said this week. There is no certainty that Dalian Wanda will manage to finalise a deal, the person added.
The source asked not to be identified because the negotiations are confidential. A spokesman for Providence declined to comment, while representatives for Dalian Wanda and Ironman did not immediately respond to a request for comment.
  1. China’s richest man in talks to buy Ironman triathlon competition for more than US$850m. Wang Jianlin's company, Dalian Wanda Group, is in talks to purchase triathlon firm, says source.
  2. Rating Action: Moody's assigns B2 corporate family rating to World Triathlon Corporation, Global Credit Research - 17 Jun 2014

Donnerstag, 30. Juli 2015

Professional Triathlon Union (PTU) founded to represents all professional non-drafting triathletes globally

According to their mission statement Professional Triathlon Union (PTU), founded and gone live on 29th of July 2015 wants to "represents all professional non-drafting triathletes globally". This might be the 3rd or 4th attempt in triathlon's short history to create a strong and long lasting union for better representation of athletes needs, responsibilities and the development for the sport based on pro athlete agendas. Given the new communication methods technology is providing today this attempt may last long and will establish itself as trustworthy partner, even without an "regular office" or postal address provided yet.

Professional Triathlon Union (PTU) founded to represents all professional non-drafting triathletes globally. Screenshot: PTU

The website features a FAQ section, a short list of duties and stakeholders already:
 The PTU will work towards introducing, developing or addressing the following:
  • Athlete Representation
  • PTU Code Of Conduct
  • PTU Accident Insurance
  • Live Coverage And Tracking
  • PTU Pro Database
  • Communication Channels
  • Prize Purses
  • PTU Athlete Education
  • Drug Testing
  • Gender Equality
  • Non-Drafting Rules
  • Pro Card Criteria
  • PTU Development Grants
  • PTU World Grand Slam Series
  • Ethnic Diversity
  • Athletes' Volunteer Time
The PTU will also address all suggestions presented by the PTU Pro members. By achieving these objectives the PTU will be professionalizing the non-drafting sport of triathlon to benefit Pro non-drafting triathletes and ALL Stakeholders. 
The PTU defines ALL stakeholders as:
  • Race organizations (WTC, Challenge, Xterra)
  • Race Directors (including indepenent)
  • ITU and National Federations
  • Sponsors and partners
  • Age group triathletes
  • Supporters, fans and family
  • Media outlets

A short list of benefits for pro athletes is avaibale already as well as a board to discuss things "internally".

  • Strong representation through our official communication channels, backed by strength in numbers
  • Access to purchase low cost global professional triathlete accident medical insurance with 24/7 support while training and racing
  • Invitation to apply for PTU development grants and speak to our free careers advisor
  • Eligibility to race for the PTU World Grand Slam Series prize purse*. A ranking system to determine the best all round non-drafting triathletes in the World
  • Entry into some major global events**. You will need a PTU membership to race some events from January 1st 2016
  • Discounts from our PTU Partners' services***
  • Addition to the PTU Pro database and PTU private Pro forum
  • An educational monthly members' newsletter
  • PTU voting rights on major issues that affect our professional sport

Founding members of the (currently way overcrowded board) are Rich Allen (President, CEO), Dirk Bockel, Mirinda Carfrae, James Cunnama, Scott DeFilippis, Andreas Dreitz, Mary Beth Ellis, Helle Frederiksen, Pete Jacobs, Rachel Joyce, Meredith Kessler, Sebastian Kienle, Angela Naeth, Dylan McNeice, Tim O'Donnell and Jodie Swallow. It's obvious, that the current structure will see smaller or bigger changes in near future.


  1. Professional Triathlon Union (PTU)