Professional Triathletes Organisation (PTO) Approaches Wanda Sports Renewing Interest In IRONMAN Acquisition and Expressing Willingness To Work With Other Potential Acquirers

The Professional Triathletes Organisation today released the following letter sent to the Board of Directors of Wanda Sports Group Company Limited on 3rd February 2020 advising the Board that the PTO has closed on its financial partnership with Crankstart Investments and renewing the PTO’s proposal to enter into discussions to acquire the Ironman® business.

3rd February 2020

Board of Directors
Wanda Sports Group Company Limited
Wanda Plaza
Tower B, 9th Floor
93 Jianguo Road Chaoyang District
Beijing, China
Attn: Mr. Hengming Yang–CEO

Andrew Messick
Chief Executive Officer
World Triathlon Corporation
407 W. Martin Luther King Blvd
Suite 100
Tampa, Florida 33607

Dear Members of the Board:

We are writing on behalf of the Professional Triathletes Organisation (the “PTO”) to advise you that we have closed on our partnership financing with Crankstart Investments. We again want to put forth our proposal to enter into discussions for the acquisition by the PTO of all of the assets of the Wanda Sports Group Company Limited (“WSG”) related to its worldwide triathlon and mass participation business (the “WTC Business”).

The PTO is prepared to consider an all-cash transaction or one in which the existing shareholders of WSG are able to participate in the growth of the WTC Business that the PTO is uniquely positioned to deliver. We strongly believe that it is only with the assistance of the PTO and its professional athletes that the WTC Business has the ability to stabilise and grow, and that without our cooperation the WTC Business would deteriorate.  We are happy to work with any other financially stable group who may be interested in acquiring the WTC Business, reducing its debt load and unleashing the value only the PTO and its professional athletes can deliver.

The PTO and North Point Advisors, our financial advisors, are prepared to begin discussions forthwith with your senior management and your financial advisors and to sign a customary confidentiality agreement in order to commence certain confirmatory due diligence.  In light of the significance of this proposal to your shareholders and the triathlon community, as well as the potential for selective disclosures, we will publicly release the text of this letter tomorrow morning.

We believe this proposal represents a unique opportunity to realise significant value for WSG shareholders and employees, and that the PTO can uniquely provide a healthy and growing environment for the WTC Business.

We hope that you and your Board share our enthusiasm and, consistent with applicable fiduciary duties, we look forward to a prompt and favourable reply.



Respectfully yours,



Charles D. Adamo
Chairman

Sam Renouf
Chief Executive Officer

Rachel Joyce
Co-President

Tim O’Donnell
Co-President

cc: David Jacquin
North Point Advisors
580 California Street
Suite 200
San Francisco, CA 94104

Professional Triathletes Organisation Approaches Wanda Sports Board Proposing to Enter Into Discussions to Acquire IRONMAN® Business

The Professional Triathletes Organisation (PTO) today released the following letter sent to the Board of Directors of Wanda Sports Group Company Limited on 20th September 2019 proposing to enter into discussions to acquire its IRONMAN® business. One of their main goals is to get a fair share of revenues Ironman generates for all professional triathletes, similar to the models the big sports in the doemestic USA have implemented in the past.

20TH September 2019

Board of Directors

Wanda Sports Group Company Limited

Wanda Plaza

Tower B, 9th Floor

93 Jianguo Road Chaoyang District

Beijing, China

Attn: Mr. Hengming Yang–CEO

Andrew Messick

Chief Executive Officer

World Triathlon Corporation

3407 W. Martin Luther King Blvd, Suite 100

Tampa, FL 33607

Dear Members of the Board:

We are writing on behalf of the Professional Triathletes Organisation (the “PTO”) to make a proposal to enter into discussions for the acquisition by the PTO of all of the assets of the Wanda Sports Group Company Limited (“WSG”) related to its worldwide triathlon and mass participation business (the “WTC Triathlon-MP Business”).

The PTO is prepared to consider an all-cash transaction or one in which the existing shareholders of WSG are able to participate in the growth of the WTC Triathlon-MP Business that the PTO is uniquely positioned to deliver. Professional triathletes, age groupers and the triathlon community have for years watched the decline of our sport with dismay as the dedicated executives and passionate employees of the WTC Triathlon-MP Business have been hampered by an excessive debt load and pressures to deliver unrealistic short-term results to financial investors. There are reasons why world class professional sports like the NFL and MLB have debt limits imposed on ownership entities as excessive debt levels limit needed investment and often cause exploitive customer pricing and a decline in standards that sadly have been present, through no fault of the hard-working operating management, in the WTC Triathlon-MP  Business for years.  We believe the market has recognised this reality as the results of the WSG IPO have proved to be well below expectations.

We have appointed North Point Advisors as our financial advisor, and they have reviewed the public information filed in the WSG F-1 Registration Statement and subsequent 6-K filings. The PTO and North Point Advisors are prepared to begin discussions forthwith with your senior management and your financial advisors and sign any NDA related agreement required in order to commence certain confirmatory due diligence.  In light of the significance of this proposal to your shareholders and the triathlon community, as well as the potential for selective disclosures, we will publicly release the text of this letter Monday morning.

We believe this proposal represents an opportunity to realise significant value for WSG shareholders and employees, and that the PTO can uniquely provide a healthy and growing environment for the WTC Triathlon-MP Business.

We hope that you and your Board share our enthusiasm, and we look forward to a prompt and favourable reply.

Respectfully yours,

/s/ Charles Adamo

Charles D. Adamo

Chairman

/s/ Sam Renouf

Sam Renouf

Chief Executive Officer

/s/ Rachel Joyce

Rachel Joyce

Athlete Director

/s/ Dylan McNiece

Dylan McNeice

Athlete Director

cc: David Jacquin

North Point Advisors

580 California Street, Suite 200

San Francisco, CA 94104

Contacts:

Sam Renouf

Chief Executive Officer

Professional Triathletes Organisation

Sam Renouf

David Jacquin

Managing Director

North Point Advisors

About The Professional Triathletes Organisation

The Professional Triathletes Organisation is a not-for-profit entity representing the body of professional triathletes and seeks to showcase the passion, talents, determination, struggles and achievements of the dedicated professionals who strive to realise the highest levels of the sport and inspire all those who participate in triathlon, from seasoned age groupers to newbies. 

About North Point Advisors

North Point Advisors is a leading independent investment bank focused on providing financial advice on mergers and acquisitions and raising institutional capital to meet the growth objectives of its clients. Since its founding in 2004, North Point Advisors has advised on more than 160 transactions representing world class brands in over $25 billion of transaction value. Its industries of focus include consumer, wellness, and healthcare, and it has one of the largest and most experienced consumer M&A teams on Wall Street, completing transactions with leading brands such as Starbucks, Jimmy John’s, Kosta Browne Winery, Landry’s, Golden Nugget Casinos, Massage Envy, and Peanuts by Schulz.

IRONMAN Triathlon-owner Wanda Sports Group starts IPO process with target to raise US$500 million

According to two recent sources (NASDAQ, Renaissance Capital), Dalian Wanda Group is starting the IPO process for IRONMAN with a target range to raise US$500 million up to US$1 billion. 3athlon reported earlier in 2018 and 2019. full 162 page prelimary SEC Form F1 linked below.

Quote, NASDAQ:

IRONMAN to IPO: Global sports owner Wanda Sports Group files for a $500 million US IPO 

Wanda Sports Group, the sporting and live events unit being spun out of China's Wanda Group, filed on Friday with the SEC to raise up to $500 million in an initial public offering. 

Wanda Sports is one of the world's largest sports events, media and marketing platforms in terms of revenue in 2018, owning Infront Sports & Media, World Endurance Holdings (owner of the IRONMAN triathlon competition and brand) and Wanda Sports Co (owner of the China Cup International Football Tournament and the UCI Tour of Guangxi). 

The Beijing, China-based company traces its roots to 1980 and booked $1.3 billion in sales for the 12 months ended March 31, 2019. It plans to list on the Nasdaq under the symbol WSG. Wanda Sports Group filed confidentially on March 20, 2019. Morgan Stanley, Deutsche Bank and Citi are the joint bookrunners on the deal. No pricing terms were disclosed.  

The article IRONMAN to IPO: Global sports owner Wanda Sports Group files for a $500 million US IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.  

Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital's Renaissance IPO ETF (symbol: IPO) , Renaissance International ETF (symbol: IPOS) , or separately managed institutional accounts may have investments in securities of companies mentioned.

Quote, Renaissance Capital:

IRONMAN to IPO: Global sports owner Wanda Sports Group files for a $500 million US IPO 

Wanda Sports Group, the sporting and live events unit being spun out of China's Wanda Group, filed on Friday with the SEC to raise up to $500 million in an initial public offering. 

Wanda Sports is one of the world's largest sports events, media and marketing platforms in terms of revenue in 2018, owning Infront Sports & Media, World Endurance Holdings (owner of the IRONMAN triathlon competition and brand) and Wanda Sports Co (owner of the China Cup International Football Tournament and the UCI Tour of Guangxi). 

The Beijing, China-based company traces its roots to 1980 and booked $1.3 billion in sales for the 12 months ended March 31, 2019. It plans to list on the Nasdaq under the symbol WSG. Wanda Sports Group filed confidentially on March 20, 2019. Morgan Stanley, Deutsche Bank and Citi are the joint bookrunners on the deal. No pricing terms were disclosed. 

1. NASDAQ: IRONMAN to IPO: Global sports owner Wanda Sports Group files for a $500 million US IPO
2. Renaissance Capital: IRONMAN to IPO: Global sports owner Wanda Sports Group files for a $500 million US IPO
3. Wanda Sports Group Company Limited, FORM F-1 as filed with the Securities and Exchange Commission (SEC) on June 7, 2019
4. China's Wanda files for U.S. IPO of sports unit including WTC's IRONMAN series to raise up to $500 million: sources
5. Wang Jianlin's sports holding within Dalian Wanda Group might consider an IPO and sale of overseas assets including Infront Sports & Media AG, World Triathlon Corp (Ironman)