Wanda inks exclusive BWF deal
Print Edition
CHINA’S Dalian Wanda Group, controlled by the country’s richest man Wang Jianlin, has signed an eight-year exclusive partnership with badminton’s international governing body, the latest high-level deal by Wanda to expand its global sports footprint.
Wanda signed the deal through its subsidiary, Swiss-based sports marketing firm Infront Sports & Media, securing the exclusive sponsorship and media rights of major events of the Badminton World Federation (BWF).
“Wanda will continue to develop our sports business,” said Wang, chairman of the property and entertainment conglomerate, at a signing ceremony yesterday. “(We’re) determined to become a global leader.”
The BWF deal will include control of all commercial rights for eight years to four international tournaments the federation now sponsors, along with future activities.
Financial terms were not disclosed, however Thomas Lund, BWF’s secretary general, said revenue from the deal would be worth hundreds of millions of dollars over the eight-year period. “We have a shared interest in developing the sport for the benefit of growing revenue and exposure,” Lund said.
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