TRIATHLON OLYMPIC GAMES TOKYO 2020 PROFESSIONAL
If Ironman is our recognizable behemoth here, then it’s the Professional Triathletes Organization that has been rattling the financial sabers of late. Who owns the Professional Triathletes Organization? Not enough to exert control, but more than a passing interest. It’s also worth noting in a triathlon context that as well as owning Ironman, Advance holds an 8.2% stake in another media company, Warner Bros. Recruitment company Zippia puts Advance’s annual revenue at around $2.4 billion. Now in his 90s, Bloomberg estimates Newhouse’s personal wealth to be approaching $20 billion. Like all the notable triathlon stakeholders in 2023, Advance is privately owned – in this case by billionaire businessman Donald Newhouse, son of the late founder Samuel Irving Newhouse, Sr. That’s the recent backstory, but what do we know of Ironman’s current owners Advance? First, it’s a giant media company. The sale also hints at one of the ongoing issues in controlling the global triathlon landscape – how do you scale and expand into new territories? The triathlon boom in Asia, despite all the optimism from Wanda-days Ironman, just didn’t happen. It’s nowhere close to the return the Wanda would have wanted, but perhaps this is due to the pandemic’s impact on the events industry. With us so far?Īdvance was reported to pay $730 million to Wanda, $80 million more than the Chinese conglomerate forked out in 2015 for its original purchase. Orkila’s founders Jesse Du Bey and Taylor Storms also helped execute the 2008 purchase of Ironman on behalf of their prior firm, Providence Equity. Today, the brand is run by The Ironman Group, formerly the World Triathlon Corporation, a sports event promotion company that is owned by Advance Publications.Īdvance acquired the brand from China-based Wanda Sports Group in August 2020, with private equity firm Orkila Capital as co-investors. Ironman has come a long way since Valerie Silk took charge in 1981 and moved the race to Hawaii’s Big Island, but its ownership in recent years has been a bit of a hot potato.
To start: Ironman is not owned by a Chinese conglomerate.
Not a business whiz? We’ve also created a glossary of terms far below to help you translate. To help, we’ve put together the most recent ownership information that’s available at the time of this writing just below. The reality is that answering, who owns triathlon is tricky. In many instances a perceived battle of David versus Goliath is actually Goliath versus Goliath II. It’s easy to think that some brands are mega-monsters eating up everything in sight, while others are scrappy upstarts simply bootstrapping themselves into existence. But triathlon is also a business, with money changing hands on a daily basis and an ever-evolving answer to the question: Who owns triathlon? When we think triathlon, we might think Ironman, Hawaii, the Olympics, or the local event organizer down the road who puts on a fun competition every third Sunday in August. Heading out the door? Read this article on the new Outside+ app available now on iOS devices for members!
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