Another high profile Chinese investment in international sport has been unveiled, with the announcement today that Wang Jianlin's Dalian Wanda Group has reached a deal to acquire Infront Sports & Media from the private equity firm Bridgepoint for €1.05 billion (£780 million/$1.2 billion).
The acquisition comes at a time when the Chinese capital Beijing is widely expected to be awarded the right to stage the 2022 Winter Olympic and Paralympic Games, in a decision due later this year.
Infront's expertise may be extremely helpful in the effective commercial exploitation of this event and in realising Chinese ambitions to host other major international sports competitions, such as the FIFA World Cup.
Interestingly, Wang, one of China's richest individuals, commented specifically on how Infront was "best-positioned to actively support China in its bidding efforts for major sports events".
Only last week, the Zug-based company announced the acquisition of Referee Sportsmarketing, a Dutch agency with a particular specialism in speed skating, a Winter Olympic sport in which The Netherlands is currently a particularly dominant world superpower.
Today's acquisition of the well-known Swiss-based sports marketing company - which is headed by FIFA President Sepp Blatter's nephew Philippe - comes less than a month after Wanda bought a 20 per cent stake in Atlético Madrid, the overachieving Spanish football club.
Critically, Infront's senior management team, including Philippe Blatter who is President and chief executive, is to remain in place, with a long-term strategic plan said to have been agreed until 2020.
The company now claims to have partnerships with 160 rights holders in 25 sports; in 2014, it generated revenues of more than €800 million (£590 million/$910 million).
Blatter said Infront would "continue to grow our business across the board, both internationally as well as in China".
Wanda, he said, was "fully committed to actively contributing to Infront's ambitious growth plans and shares our long-term vision as well as our corporate values.
"Overall, we are convinced that the new and strengthened ownership structure will help to further enhance our service offering to benefit our valued partners and clients."
Wang, who is chairman of Wanda Group, said the acquisition would "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".
Wanda, he said, would also "be in a position to increase its influence in the global sports industry and help raise the level of competition in Chinese sports".
For Bridgepoint, Xavier Robert, a Paris-based partner, described Infront as "a scarce asset in its sector that has delivered a strong performance on the back of geographical expansion and a growing sports contract base to become a well-diversified premium sports marketing company".
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February 2015: Infront to acquire Dutch agency specialising in speed skating
May 2014: International Ice Hockey Federation extends Infront deal to 2023
May 2014: German Ski Association extends media partnership with Infront until 2020-2021 season
January 2014: Infront awarded Sub-Saharan Africa broadcasting rights ahead of Sochi 2014
November 2013: Turkish Basketball Federation sign long term partnership with Infront to promote League