2020 EDITIONS OF IRONMAN WORLD CHAMPIONSHIP AND IRONMAN 70.3 WORLD CHAMPIONSHIP CANCELLED DUE TO CONTINUED IMPACT OF COVID-19 PANDEMIC

- First IRONMAN World Championship cancellation dating back to 1978

- Events to return in 2021 with IRONMAN 70.3 World Championship taking place in St. George, Utah on Sept. 17 & 18 and IRONMAN World Championship in Kailua-Kona, Hawai`i on October 9

 - IRONMAN working to secure Taupō, New Zealand for the 2022 IRONMAN 70.3 World Championship.

TAMPA, Florida (USA) - IRONMAN today announced that, due to the continued impact of the COVID-19 global pandemic, the 2020 editions of the IRONMAN® World Championship and IRONMAN® 70.3® World Championship have been cancelled. The IRONMAN World Championship will return to Kailua-Kona, Hawai`i on October 9, 2021 and the IRONMAN 70.3 World Championship will return on September 17 and 18, 2021 and take place in St. George, Utah, United States. IRONMAN is working to secure Taupō, New Zealand as the host destination for the 2022 IRONMAN 70.3 World Championship.

As the global COVID-19 pandemic continues to impact events around the world, both world championship events have seen a majority of their respective qualifying events postponed or unable to take place in 2020, impeding the ability to qualify athletes for the respective 2020 world championship events. Based on the schedule, the continuation of existing travel restrictions worldwide, and other circumstances beyond our control, IRONMAN’s world championship events cannot proceed as rescheduled.

 “It is with a heavy heart that we have made the decision to cancel the 2020 editions of the IRONMAN World Championship and IRONMAN 70.3 World Championship. While we were hopeful that we could welcome our athletes, their families, and supporters to these events in early 2021, the continued impact of the pandemic makes this impossible. It is tough to make this decision in July, but it will provide the necessary clarity for our athletes, host cities and partners,” said Andrew Messick, President & Chief Executive Officer for The IRONMAN Group. “It is disappointing not to be able to provide our racing community with the opportunity to compete in the IRONMAN World Championship for the first time in our 43 year history and our IRONMAN 70.3 World Championship for the first time since inception in 2006.

We will endure, however, and look forward to the day when we will again assemble the greatest professional and age-group triathletes in the world and crown world champions.” Athletes who qualified for the 2020 editions of the IRONMAN World Championship and IRONMAN 70.3 World Championship event will be contacted directly. They will have the opportunity to race in the 2021 or 2022 editions of the respective World Championships.

In June, IRONMAN announced a new IRONMAN 70.3 World Championship qualifying method for athletes. The HOKA ONE ONE IRONMAN® Virtual Racing™ Championship Series is a four-weekend long regulated age-group competition designed to reward top-performing athletes with IRONMAN 70.3 World Championship qualifying slots. Athletes who earned qualifying slots, via that Championship Series, will now receive slots to the 2021 IRONMAN 70.3 World Championship taking place in St. George, Utah, United States on Sept. 17 and 18, 2021. Looking Forward St. George enters an elite group of destinations around the world bestowed with the honor of hosting the IRONMAN 70.3 World Championship. The event originated in Clearwater, Florida in 2006 and moved to Henderson, Nevada (2011-13) prior to embarking on a global annual rotation that began with Mont-Tremblant, Quebec, Canada (2014). Each year since, it has reached new locations all over the world, including Zell am See-Kaprun, SalzburgerLand, Austria (2015); Mooloolaba, Queensland, Australia (2016); Chattanooga, Tennessee, United States (2017); and Nelson Mandela Bay, South Africa (2018).

In 2019, the IRONMAN 70.3 World Championship took place in beautiful Nice, France. In 2021 the IRONMAN 70.3 World Championship rotates back to North America for the first time since 2017. The striking Southwestern community of St. George has been a host venue for IRONMAN and IRONMAN 70.3 triathlons since 2010. St. George’s breathtaking scenery and views of the surrounding red rock canyons have made the community an ideal destination for athletes for years. The city's walkable downtown area features great local fare and boutique shopping. It is also only a two-hour drive from the nightlife of Las Vegas, with its never-ending entertainment options. The course has historically begun in the beautiful Sand Hollow Reservoir before embarking on a bike course through picturesque Snow Canyon State Park prior to a run through the Red Cliffs Desert Reserve.

The IRONMAN 70.3 North American Pro Championship St. George also earned accolades in the 2018 IRONMAN Athlete Choice awards, ranking in the Top 10 for two categories - fifth in Best Overall Bike and ninth in Overall Host City Experience. In 2019 IRONMAN 70.3 St. George ranked in top-10 globally in two categories of the IRONMAN Athlete Choice award – ninth for Overall Bike and eighth for Overall Venue Experience. "Since the inception of rotating the IRONMAN 70.3 World Championship to premier destinations around the globe each year, IRONMAN has created an inspirational event unlike any other. We are excited to be part of the prestigious and elite community of world championship host cities, and to represent the world as we welcome the world championship athletes back,” said Kevin Lewis, Director of the Greater Zion Convention & Tourism Office. “Our course showcases some of the most dramatic landscapes of any IRONMAN 70.3 circuit globally. The powerful combination of scenery and terrain is backed up by an energetic community that is exhilarated to host such an iconic event. Athletes who have raced here rave about the experience. Those who haven’t will soon find out why.”

For more information and event details for the IRONMAN World Championship, please visit www.ironman.com/im-world-championship. Further updates on the IRONMAN 70.3 World Championship can be found at www.ironman.com/im703-world-championship.

Advance to Acquire the Ironman Group From Wanda Sports Group

Advance announced today that it has entered into a definitive stock purchase agreement with Wanda Sports Group Company Limited (NASDAQ: WSG) to acquire The IRONMAN Group in an all-cash transactioon at enterprise value of USD 730 million.

The IRONMAN Group and its portfolio of assets, which includes its flagship IRONMAN® and IRONMAN® 70.3® triathlons, the Rock 'n' Roll Marathon Series®, and the Epic Series® of mountain biking races, among other events, makes up the largest mass participation sports platform in the world. From a single race on O’ahu, Hawai`i in 1978, The IRONMAN Group has owned, organized, promoted, and licensed endurance events for over 40 years, which now consists of more than 235 events in over 50 countries, across triathlon, running, trail running, cycling and mountain biking. Each year over one million international athletes participate in an IRONMAN Group race. 

Advance is committed to the future of The IRONMAN Group and believes in the long-term strength of its well-recognized brands and the dedication of its athletes, communities, employees and fans. Advance is a private, family-owned business that invests in a broad range of media and technology companies. 

Orkila Capital (“Orkila”) will co-invest in The IRONMAN Group and Jesse Du Bey, Managing Partner of Orkila, will rejoin its Board of Directors alongside Advance and Andrew Messick, President and CEO of The IRONMAN Group. Orkila is a growth equity firm focused on investments in the media, entertainment and consumer sectors. Du Bey, previously a Managing Director at Providence Equity Partners, led that firm’s 2008 investment in The IRONMAN Group. 

“Today is an important milestone for The IRONMAN Group. We are pleased with this partnership, which is a testament to Advance’s belief in the company,” said Andrew Messick, CEO of The IRONMAN Group. “We remain confident in our future; our focus and objectives are unchanged; and we are ready to face the opportunities and challenges ahead. Together with Advance and Orkila, we will navigate through the turbulent and uncertain period in front of us and continue to deliver the exceptional experiences for which we’re known. I’m also thrilled to welcome Jesse Du Bey back to the Board of Directors of The IRONMAN Group.” Messick continued, “We thank Wanda Sports Group for its support over the past four years and are proud of what we have accomplished together. We look forward to continuing our work in China with Wanda Sports Group in the coming years.”

“We are pleased to welcome The IRONMAN Group to the Advance family of companies,” said Janine Shelffo, Chief Strategy and Development Officer at Advance. “The core IRONMAN Group values of endurance and perseverance resonate strongly at Advance, a one hundred year-old business that has differentiated itself through long-term focus and commitment.  We are delighted to partner with Andrew and his executive team as they plan to resume exceptional race experiences for their passionate athletes, and to support the long-term growth of the business. We’re also pleased to join forces with Orkila and are grateful for the invaluable experience with The IRONMAN Group that they bring to our partnership.” 

“I look forward to this new chapter with The IRONMAN Group. Since I last worked with Andrew and his team, the company has experienced significant growth in its global triathlon event footprint and has successfully expanded into new areas such as running, trail running and mountain biking,” said Jesse Du Bey, Managing Partner of Orkila. “I am thrilled that Orkila is partnering with Advance, Andrew and The IRONMAN Group to help build this great family of brands into the future.”

As part of the transaction, Wanda Sports Group will continue to operate the IRONMAN® and IRONMAN® 70.3® triathlon series, Rock 'n' Roll Marathon Series® and Epic Series® of off-road mountain bike races in China under an exclusive license agreement.

The transaction has no financing condition and is subject to customary regulatory approvals, with closing anticipated in the second quarter of 2020. 

Advance was advised by BofA Securities and Sullivan & Cromwell LLP. The IRONMAN Group and Wanda Sports Group were advised by Credit Suisse and Reed Smith LLP. 

Links

• Advance
• Orkila
• Ironman

About The IRONMAN Group

The IRONMAN Group operates a global portfolio of events that includes the IRONMAN® Triathlon Series, the IRONMAN® 70.3® Triathlon Series, the IRONMAN® VR™ Series, 5150™ Triathlon Series, the Rock ‘n’ Roll Marathon Series®, IRONKIDS®, ITU World Triathlon Series, premier running events including the Standard Chartered Singapore Marathon™ and The Sun-Herald City2Surf® presented by Westpac, Ultra-Trail® World Tour events including Tarawera Ultra and Ultra-Trail Australia™, mountain bike races including the Absa Cape Epic®, road cycling events, and other multisport races. The IRONMAN Group is the largest operator of mass participation sports in the world and provides more than a million participants annually the benefits of endurance sports through the company’s vast offerings. Since the inception of the iconic IRONMAN® brand and its first event in 1978, athletes have proven that ANYTHING IS POSSIBLE® by crossing finish lines around the world. Beginning as a single race, The IRONMAN Group has grown to become a global sensation with more than 235 events across 50+ countries. For more information, visit www.ironman.com.

About Advance

Advance is a private, family-owned business that owns, operates and invests in companies spanning media, entertainment, technology, communications, education and other promising growth sectors. Our mission is to build the value of our companies over the long-term by fostering growth and innovation. Advance’s portfolio includes Condé Nast, Advance Local, Stage Entertainment, American City Business Journals, Leaders Group, Turnitin, 1010data and Pop. Together these operating companies employ more than 15,000 people in 19 countries. Advance is also among the largest shareholders in Charter Communications, Discovery and Reddit. For more information visit www.advance.com. 

About Orkila

Orkila Capital LLC (“Orkila”) was formed in 2013, by Jesse Du Bey and Taylor Storms, to pursue proprietary and compelling growth equity investment opportunities in the consumer, media and entertainment sectors. Orkila invests in leading companies at the forefront of evolving market opportunities, including Mikkeller, Recognition Media (The Webby Awards), Antares Audio Technologies (Auto-Tune), Omnipollo and Bellator MMA. Additionally, the Principals of Orkila co-founded Crash Line Productions (Boston Calling Music Festival, Eaux Claires Music & Arts Festival and others) as well as sourced and helped execute the 2008 purchase of World Triathlon Corporation (IRONMAN) on behalf of their prior firm. With over 30 years of experience, the Principals of Orkila seek to leverage their deep industry knowledge and relationships to focus on growth platforms with differentiated brands, IP or content. Orkila manages approximately $500 million of capital across three private equity funds and several Special Purpose Vehicles. For more information visit www.orkilacapital.com.