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roxii

WANDA GROUP ACQUIRES IRONMAN

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Boom!!!

 

All IM merchandise will come from China now...

Ironcally it might actually start coming from the usa again and fit us.

 

 

They paid way too much.

 

650 mill. Farking crazy.

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People working at WTC must be pretty worried now, their job security is questionable..

 

I'd enroll in a course to speak Chinese stat if I worked there.

 

in all honesty there are about 3 companies in the world interested in buying Ironman so I have NFI how they got the price.

 

Their yearly income profit wouldnt even be 40 mill (guessing)

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I'm expecting this deal to fall over. To many unknowns. How the sale price was reached, how the Chinese are funding this and whether the Wall Street compliance people will allow the on selling of current debt. After all, that's the practise that caused the GFC.

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How does it affect anything to do with WTC's product? IM remained (by and large) the same under Providence, why would it be any different under Wanda's ownership?

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They paid way too much.

650 mill. Farking crazy.

For another 50 mill they could have brought the biggest coal port in the world turning over billions, here in Newcastle!

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I would have liked to have seen it bought out by the triathlon unions.
All members of a triathlon union could have purchased shares of the company.
Then the athletes could have more influence.
Not sure how many share holders we would have had and how much each share would have cost

but I have always thought it would be nice to own a piece of the pie

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Boom!!!

 

All IM merchandise will come from China now...

 

Couldn't be any worse than what it is now

Cheers

Ivp

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I would have liked to have seen it bought out by the triathlon unions.

All members of a triathlon union could have purchased shares of the company.

Then the athletes could have more influence.

Not sure how many share holders we would have had and how much each share would have cost

but I have always thought it would be nice to own a piece of the pie

 

 

The Sutto plan!

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I would have liked to have seen it bought out by the triathlon unions.

All members of a triathlon union could have purchased shares of the company.

Then the athletes could have more influence.

Not sure how many share holders we would have had and how much each share would have cost

but I have always thought it would be nice to own a piece of the pie

Provident being a U.S. PE firm always had a flick it goal. The new crew might float it at some stage and you might one day get a chance to own part of it. Just might be part of a Chinese listed entertainment / tourism conglomerate ...

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I would have liked to have seen it bought out by the triathlon unions.

All members of a triathlon union could have purchased shares of the company.

Then the athletes could have more influence.

Not sure how many share holders we would have had and how much each share would have cost

but I have always thought it would be nice to own a piece of the pie

At that price I very much doubt i would want a piece of the pie.

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How does it affect anything to do with WTC's product? IM remained (by and large) the same under Providence, why would it be any different under Wanda's ownership?

Hope we athletes will not feel any change, but from a corporate level, I've pretty sure there will lots of changes... Andrew Messisk will now be reporting to another boss...

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Saw on Twitter Messick will still be CEO and most of the core team will stay.

So, same old same old I reckon.

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Saw on Twitter Messick will still be CEO and most of the core team will stay.

So, same old same old I reckon.

 

I'd personally like Messick to move on. His close links with Lance do not impress me.

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Hey Roxii, just got Wanda on the phone again but they still won't pay a cent over $200m for Trannies plus an earn out. Should I tell them to sharpen their pencil one last time?

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Asians singing Karaoke at the awards night! It's the 1993 World Cup on the Gold Coast all over again! Hahaha

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Fireworks at midnight should be good!

 

This in the finish chute!

 

 

Edited by MissJess

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This in the finish chute!

 

 

 

 

They should make one that's a km long and spark it up at 11.50pm, that'd get a few across the line! :schnauz:

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There may be some upsides to this. If the CEO takes a personal interest in IM - you could see races held in interesting places. Access to areas the conglomerate owns etc.

 

The purchase prices / revenues and CAGR imply it was purchased assuming growth. The $ behind Wanda will dwarf anything IM / Provident could have promoted to further build the brand (or they might burn in out).

 

It will probably take a year or two till we see some new ideas / new bodies into IM Managment. .,..

Let's check back in 2018/9. Cb interesting.

 

 

Sent from my iPad using Tapatalk

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That's a good point Mjainoz. Certainly there's an interest in drawing the tourist dollar and business investment into China by showcasing different locations. We've got buildings rent-free for example, as they want to promote a developing area and encourage foreign investment and local hiring. Why not the same, but through IM?

 

For example, the entry price gets you the usual stuff, but along with accommodation for two nights and transport. The flip is that it's in a location where they want to encourage the sports traveller, so way from the big cities and their 'fog', but still a 'destination'. Somewhere where training camps could be set-up, or a sports academy, and the race would be the catalyst for development in that area through the IM marketing machine.

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There may be some upsides to this. If the CEO takes a personal interest in IM - you could see races held in interesting places. Access to areas the conglomerate owns etc.

 

The purchase prices / revenues and CAGR imply it was purchased assuming growth. The $ behind Wanda will dwarf anything IM / Provident could have promoted to further build the brand (or they might burn in out).

 

It will probably take a year or two till we see some new ideas / new bodies into IM Managment. .,..

Let's check back in 2018/9. Cb interesting.

 

 

Sent from my iPad using Tapatalk

Part of the agreement was key management had to sign to stay for another 4 or 5 years

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...which is pretty standard as they are buying the intellectual property that comes with staff etc.

 

Andrew Messick has done a good job for WTC shareholders, the people who pay him, and that is obviously all he cares about. I see no reason why a chinese multi-billion dollar group would want to move him over given his performance to date, unless of course someone within the company has any emotional attachment to the brand, how things are being run (highly unlikely).

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Agree. It's standard to put golden handcuffs on people. But in 18 months time Messick will probably not have the autonomy he had prior.... Might depend if growth rates stay as high / improve.

 

There will be plenty of WTC Managment that will leave / given a push over time. Ie prior to 5 years.

This is all takeover / buy out 101.

 

 

Sent from my iPad using Tapatalk

Edited by Mjainoz

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Golden handcuff contracts mean squat, at least in most western legislation. If another organisation not covered in a non-compete clause offered them a new role, there will be little to stop them leaving

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Messick to defect to Challenge in 12 months or less....

Why would he. He would be on bullet payments to stay. And Why would Challenge offer him big enough $ for him to leave. More likely to go after lower payed staff maybe without cuffs / non compete.
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