Wanda eyeing stake in ACMilan soccer team
“The arrival in Italy of the Wanda Group and Wang Jianlin (chairman of Wanda Group) has created a newscenario, because it ties in very well with the new stadium project,” wrote Italian sports journalistMarco Bellinazzo.
The Chinese offer represents Berlusconi’s dream of selling a minority stake without losing control, letting the newshareholders take charge of the construction of the stadium, added Bellinazzo.
Last month, Wanda concluded the acquisition of a 20 percent acquisition of Spanish team Atletico de Madrid, and now the company plans to open 200 corner shops in its Chinese Wanda malls to sell the team’s official merchandise. Wanda’s owner, Wang Jianlin, also wants to participate in the development of a bigger stadium for theMadrid-based team.
This month, the Chinese company successfully completed the purchase of influential Swiss sports marketing giant Infront for $1.2 billion. Wang said that the acquisition would help pave the way for Wanda to become a global force in the sports industry. Infront also owns the broadcast rights of Italian soccer.
“The acquisition of Infront will significantly increase the future impact of the Wanda Group in the culture and entertainment industry and will also drive the development of the Chinese sports industry and its interest around the globe,” Wang said earlier this month.