Wanda Sports Group Co., the China-based sports marketing and event promoter is considering a sale of the Ironman triathlon business, according to a report from Bloomberg.
Wanda Sports confirmed to Bloomberg that it had held discussions. Bloomberg reported Tuesday that the company is working with an adviser and has held discussions with private-equity buyers that expressed interest in the business.
The report comes just weeks after the Professional Triathletes Organisation (PTO) made a second proposal to enter into discussions with Wanda Sports about acquiring Ironman. The organization said at the time that excessive leverage has hampered Wanda Sports’ ability to invest in Ironman operations. Wanda rejected the PTO’s first approach in October last year.
Wanda Sports purchased Ironman’s parent company World Triathlon Corporation for $650 million in 2015.