Is Wang Jianlin About To Snap Up Cycling’s Grand Tours?

According to a recent report in Italian newspaper Milano Finanza, China’s richest man Wang Jianlin could be about to acquire one of cycling’s most prestigious grand tours.

It is thought that he could do a deal as early as this month with RCS Sport, owner of the Giro d’Italia and other races, as the Giro d'Italia owners are facing a substantial €440 million debt.

There have also been reports that Mr Wang is said to have held initial talks with Tour de France and Vuelta a España owner Amaury Sport Organisation.

It is well known that as China’s middle class expands he is keen on acquiring sports and leisure assets to leverage into that demographic. He owns a 20-percent stake in the Spanish soccer club Atletico de Madrid, his Dalian Wanda group also purchased the Ironman triathlon event company for $650 million in August this year, and is the main sponsor of the Chinese Super Soccer League.

 

 

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