--FILE--View of a Wanda Plaza of Dalian Wanda Group in Changchun city, northeast China's Jilin province, 25 December 2014. China's Wanda Group has a
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3504 x 2336 px | 29.7 x 19.8 cm | 11.7 x 7.8 inches | 300dpiDate taken:
25 December 2014Photographer:
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--FILE--View of a Wanda Plaza of Dalian Wanda Group in Changchun city, northeast China's Jilin province, 25 December 2014. China's Wanda Group has agreed to buy Infront -- the Swiss sports marketing group headed by FIFA president Sepp Blatter's nephew and which holds some broadcasting rights to the World Cup -- for 1.05 billion euros ($1.2 billion), the two firms said Tuesday (10 February 2015). The Chinese property and entertainment conglomerate is looking to increase its influence in the global sports business, as Beijing bids for the 2022 Winter Olympics while rumours swirl that it could seek to host the 2026 football World Cup. Wanda chairman Wang Jianlin said in a joint statement that Infront "is best positioned to actively support China in its bidding efforts for major sports events". At a news conference following the announcement, he also cited Chinese President Xi Jinping's three-step plan for developing football in China: "To qualify for a World Cup, to host a World Cup and to win a World Cup."Wang said he planned to take Infront public, but did not say when or where he would list the company. The deal puts Wang -- who recently bought 20 percent of Spanish football champions Atletico Madrid -- and his company firmly in the front row of the global sports business. Infront Sports and Media, based in Zug, Switzerland, and directed by Philippe Blatter, handles the media and marketing rights for many international sports events.