1493243722801 - China’s richest man moves into marathons as part of global sports expansion

China’s richest man moves into marathons as part of global sports expansion

Aiming to equal the Boston or New York marathons, China’s richest man Wang Jianlin is bringing more major marathons to Asia including a major event within China.

Dalian Wanda Group, controlled by Wang, has signed a deal to sponsor races with the world’s top organiser, Abbott World Marathon Majors (WMM), the latest move by Wanda to expand its global sports business.

Wanda’s sports division and WMM signed a deal that will see Wanda hold three WMM races in the Asia-Pacific region in the next ten years, including a race in China.

The Abbott World Marathon Majors presently consist of six of the world’s most well-known marathon races, including the Boston Marathon and the New York Marathon.

A WMM China race may be inaugurated within three years, Wang told a singing ceremony in Beijing.

“This is the right moment for a world marathon to come to China,” Wang said.

​* China’s richest man buys stake in Atletico Madrid
* Wang Jianlin becomes first Chinese person to control Hollywood film company
* First the Polar Ice marathon, then onto New York

Hugh Brasher, London Marathon race director, told reporters that it may take several years before a Chinese city meets operational criteria to host a marathon event.

Pollution is an element that needs to be addressed to hold a race, Brasher said, but other criteria, including financial and political support, are required.

Wanda has helped lead China’s push into organised sports and sports marketing, as the government advances its goal of turning the sector into a 5 trillion yuan (US$725.63 billion) business by 2025.

Over the last two years, Wanda has sealed a series of high-profile sports investments, including buying WTC, the U.S. owner of the popular Ironman Triathlon franchise, and taking a 20 percent stake in Spanish soccer club Atletico Madrid.

Wanda last year also became a top sponsor of soccer’s global governing body FIFA and said it will organise the first China Cup from 2017, and inked a partnership with international basketball’s governing body FIBA.

The group has said that it plans to create at least 10 major international sports events in China before 2020.

In September, Wanda also signed an eight-year exclusive partnership with Badminton World Federation (BWF), the world badminton governing body.

What's the Future of Video Games? | The Business of Life

Learn more about earning money from a hobby or skill here: http://bit.ly/2ucNgx8 Kathryn Edwards, Andrea Rene, & Sam Barlow ...