China’s second richest man swoops on Infront Media in €1bn deal
China’s second-richest man, Wang Jianlin, has swooped on Infront Media in a €1bn buyout following its auction by private equity firm Bridgepoint.
The sports rights firm, run by Fifa president Sepp Blatter’s nephew, was bought by Bridgepoint for just €550m in 2011.
Jianlin is best known as head of property and entertainment juggernaut Dalian Wanda Group but is also a keen football fan, snapping up a 20 per cent stake in Spanish football team Atletico Madrid for €45m a few weeks ago.
Infront will now embark on increasing its investments and improving its international sports marketing offer, it currently generates in excess of €800m a year from operations in 13 countries and partnerships with Fifa, the International Ski Federation and Ironman triathlons.