VeloClub is CyclingTips’ membership program which brings us closer to our members, and connects likeminded cycling enthusiasts.
by Mark Zalewski
January 21, 2017
In today’s CyclingTips Daily News Digest: Caleb Ewan claims sprint hat-trick at the Tour Down Under, Porte poised for Willunga defence; Cookson defends Sutton over bullying claims, says he has a great respect for him; Tour Down Under boss pushing for World Championships in 2020; Court to rule in case involving Thomas Dekker tell-all book; Anna van der Breggen ready for new team, new challenges; Christine Majerus ready for to welcome the cyclocross world to Luxembourg; Lars Boom to skip final World Cup; Wanda Group posts nine percent gain in sports division; Steven Hyde is CX Captain America; Video: Tour Down Under, stage 4 highlights; Backstage Pass – TDU, stage 4; Velon ready to bring more action in 2017; Sven Vanthourenhout is on thin ice.
Chinese company Wanda Group reported its 2016 earnings this week with the sport division posting a nine percent gain, totaling $932 million (€873 million). The sport division is heavily involved in the cycling industry and recently acquired the World Triathlon Corporation which owns the IRONMAN race brand and also includes the Hamburg Cyclassics WorldTour event, several smaller UCI races and the company’s partnership with the UCI to produce the Velothon cycling event series.
The UCI and Wanda Sports announce a partnership to expand cycling in China. Courtesy: UCI
The UCI recently signed an agreement with Wanda Sports to create a new UCI WorldTour race, the Tour of Guangxi, and construct a satellite cycling centre, similar to the World Cycling Centre at the UCI’s headquarters in Aigle, Switzerland. The Tour of Guangxi will be a six-day stage race held in October, and will run alongside a new women’s elite race which has applied for UCI Women’s WorldTour status for 2018.
Wanda also owns InFront Media, which owns and operates the Tour de Suisse as part of its partnership with Swiss media group Ringier, also recently partnered with Velon, the business venture owned by 11 shareholding WorldTour teams that has been at odds with ASO over on-board camera footage and data telemetry from the peloton. Teams feel that anything tied to a rider’s bike belongs to them; ASO believes on-bike footage falls under its own media rights, and countered by launching a telemetry system at the 2015 Tour de France, in partnership with Dimension Data.
There have been many reports that the owner of the Wanda Group, China’s richest man Wang Jianlin, has tried to buy all three of cycling’s Grand Tours.
Click through to read more at Triathlon Business.