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willie

Wanda just bought Fairfax events

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Aren't Wanda Chinese owned, cant wait to see Trumps embargo stop all the US ironman events.  😂😂😂😂

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$31 million - I hope they stabbed them with an active fee.

  • Haha 3

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Interesting to note that some of the smaller break even/loss making events have been shelved now that Wanda bought them out. Assuming Wanda didn't want them and told Fairfax they couldn't keep running sporting events as part of the deal.

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22 minutes ago, willie said:

So they own most of Australia's big endurance sporting events now. 

How long till sponsors etc stop giving Wanda $$$? 

Edit: Story https://www.afr.com/business/media-and-marketing/nine-sells-marquee-sports-events-to-ironman-for-31m-20190520-p51pa8

The scary part is if they go under, we at participants have a LOT to lose.

6 minutes ago, trinube said:

$31 million - I hope they stabbed them with an active fee.

Interesting number.  I wonder if they made much what they paid for it when they bought it from Dave hansen.

However the bigger question is

Fairfax used to run Challenge Shep and Challenge Melbourne.

Do they stay around or become Ironman events?

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3 minutes ago, willie said:

Interesting to note that some of the smaller break even/loss making events have been shelved now that Wanda bought them out. Assuming Wanda didn't want them and told Fairfax they couldn't keep running sporting events as part of the deal.

For example what events?  I cant read it as ts behind a paywall

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Article for everyone

Quote

Nine to sell former Fairfax sports event business to Ironman Group

May 21, 2019 9:55 

by PAUL WALLBANK

0

Nine is to sell off part of its former Fairfax events and entertainment business as part of its latest restructure of the former publishing empire’s assets.

While Nine is disposing of the mass market events, most notably the Sydney City2Surf, the business and food assets which include the Night Noodle Markets, Good Food Month, The Australian Financial Review Business Summit and Women of Influence Awards, will move into the group’s publishing division and be aligned with their respective editorial brands.

The start of the Sydney City2Surf event

As part of these changes, Nine also confirmed it would no longer continue with some of its smaller sporting events and also close the group’s parenting shows.

The $31 million sale of the sports events business to The Ironman Group follows Nine selling the former Fairfax community media arm to a consortium led by Antony Catalano last month and will see “around half of the employees” within Nine’s division moving with the sale.

A Nine spokesperson was unable to give an exact number of staff that expect to move across to the Ironman group in the change or the job losses as a result of the sale and shutting down of the smaller events.

Ironman is a division of Chinese owned Wanda Sports Holdings company, which also owns Hoyts Cinemas. The group operates a global portfolio of events which in Australia includes the Blue Mountains ultra trail race and Noosa’s Runaway marathon.

Nine’s publications will continue to have an ongoing relationship with their respective events as naming partners.

“The Fairfax Media Events team are outstanding and have a reputation for delivering world-class events. Sydney and Melbourne are considered two of the world’s greatest cities and with the addition of these events, we now have a major presence in each with staff expertise that will allow for us to be forward thinking as we evolve and develop,” said Dave Beeche, Managing Director for The Ironman Group in Oceania.

“We look forward to integrating those involved with the events into our business as we continue to ensure our global community receives the life-changing race experiences that they have come to know and expect from us.” ­

Alex Parsons, acting managing director of Nine’s Events and Entertainment division, said: “Today’s announcement sees iconic events like The Sun-Herald City2Surf and The Sydney Morning Herald Half Marathon bought by an owner who is well placed to maximise the value of the business and help it grow into the future.

“The decision to put food and business within publishing helps to ensure popular events like Good Food Month and The Australian Financial Review Business Summit continue to be well placed to leverage the power of their associated editorial brands.”

Parsons, who was brought in to oversee the sale process, will complete the sale and related transactions in the coming weeks.

 

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Isn't the Melbourne tri series by SME360 also aligned to Fairfax or was that challenge Melb?

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43 minutes ago, Blobby said:

Isn't the Melbourne tri series by SME360 also aligned to Fairfax or was that challenge Melb?

both

and all the corp tris

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1 minute ago, more said:

So will challenge be rebranded? 

It will be a buy out like Cairns. Shep 70.3 May ride again! But won't be anywhere near as good value for money, as when Hymie, Stacy, Ayto and Co ran it. 

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1 hour ago, more said:

So will challenge be rebranded? 

 

11 minutes ago, trilobite said:

So Challenge are officially cactus in Australia?

It appears they didn’t buy challenge or the 2xu series in Melbourne 

Just the melb Corp tri. City to surf Sydney. Sydney half marathon and Carmen’s fun run women’s. 

DFB07399-0C0F-4322-9532-D8FB0BF6E7CB.jpeg

0D8938CA-D607-47AE-95FF-85884E667B00.jpeg

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10 hours ago, Peter said:

The scary part is if they go under, we at participants have a LOT to lose.

Interesting number.  I wonder if they made much what they paid for it when they bought it from Dave hansen.

However the bigger question is

Fairfax used to run Challenge Shep and Challenge Melbourne.

Do they stay around or become Ironman events?

We have seen this in WA. With trievents being bought by Channel 7 and then going under, leaving us with no sprint series. 

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Just now, Blacky said:

We have seen this in WA. With trievents being bought by Channel 7 and then going under, leaving us with no sprint series. 

Not an issue since my first post.  

 

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Fairfax also owned the Cole Classic Swim at Manly, 7km Sun Run on the Northern Beaches, the Canberra Marathon and its supporting events (aka Australian Running Festival) and more.

I have a friend who once worked in Fairfax's event management team. He told me their minimum goal was to make $1 million from each event.

While it's claimed City to Surf raises a lot for charity, my understanding is that none of that comes from entry fees or from Fairfax's pockets, but rather from encouraging fundraising by the runners.

If Wanda has Fairfax's entire sporting events portfolio, it won't take them too many years to recoup $31 million.

 

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21 minutes ago, Paul Every said:

.

If Wanda has Fairfax's entire sporting events portfolio, it won't take them too many years to recoup $31 million.

 

But they don’t.  They just bought the 4 events. 

Now if they bought all of the corporate tris around the country and also 2xu series etc... then that would be interesting.  

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21 minutes ago, Peter said:

But they don’t.  They just bought the 4 events. 

Now if they bought all of the corporate tris around the country and also 2xu series etc... then that would be interesting.  

Perhaps they could even implement a system that facilitates transferring entries over a calendar year (which I have previously been advised in writing is the case)???

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31 minutes ago, Peter said:

But they don’t.  They just bought the 4 events. 

Now if they bought all of the corporate tris around the country and also 2xu series etc... then that would be interesting.  

Comprehension fail on my part. :BN_Characters_loser:

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3 hours ago, Peter said:

Not an issue since my first post.  

I'm saying you're wrong. I know someone here in Sydney and they bought all the events and some are being wound up because they're not profitable.

Someone that currently works for Fairfax Events will be working for me from July. 

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7 hours ago, willie said:

I'm saying you're wrong. I know someone here in Sydney and they bought all the events and some are being wound up because they're not profitable.

Someone that currently works for Fairfax Events will be working for me from July. 

I’m just going on the Ironman site saying they only bought the 4 events. 

I hope they bought more. I’d love challenge melb to be ironman 70.3 melbourne 

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37 minutes ago, Peter said:

I’m just going on the Ironman site saying they only bought the 4 events. 

I hope they bought more. I’d love challenge melb to be ironman 70.3 melbourne 

They may have bought more, but they will be continuing with 4 and will close the others down to reduce costs, and competition to their core events. That would be my take on it.

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1 hour ago, Ex-Hasbeen said:

They may have bought more, but they will be continuing with 4 and will close the others down to reduce costs, and competition to their core events. That would be my take on it.

The 2xu series in Melbourne is pretty successful.  Doubt they will shut that down

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5 minutes ago, Peter said:

The 2xu series in Melbourne is pretty successful.  Doubt they will shut that down

Successful doesn't mean money making though. 

There are some events that may not be sold because they're co-owned etc. It might take a while to sort a few things out. Anyone know what contract terms for City2Surf are?

I get the feeling there will be a substantial management fee paid offshore now it's foreign owned and will become another very low taxed franchise so prices may not rise like we all fear. 

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Have to say I've always thought the C2S and city marathons / half's that Fairfax ran were fricking expensive for what they were, and their customer service (refund / deferral etc) was derisory - so I may be in the minority, but is there a chance that this sale may improve the events (or is that me being naive!)???

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1 hour ago, AJS said:

Have to say I've always thought the C2S and city marathons / half's that Fairfax ran were fricking expensive for what they were, and their customer service (refund / deferral etc) was derisory - so I may be in the minority, but is there a chance that this sale may improve the events (or is that me being naive!)???

you're naive sorry! I dont think any events wanda has bought have changed all that much apart from a little sparkle. UTA, MTB race and a few others... Queenstown Marathon is another I've seen.

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3 hours ago, Peter said:

The 2xu series in Melbourne is pretty successful.  Doubt they will shut that down

So the next announcement will be Ironman 16 (sprint - covering either 500m or 750m swim), Ironman 32 (Olympic)  

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30 minutes ago, Blobby said:

So the next announcement will be Ironman 16 (sprint - covering either 500m or 750m swim), Ironman 32 (Olympic)  

It's already a thing with 5150

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9 hours ago, willie said:

Successful doesn't mean money making though. 

There are some events that may not be sold because they're co-owned etc. It might take a while to sort a few things out. Anyone know what contract terms for City2Surf are?

I get the feeling there will be a substantial management fee paid offshore now it's foreign owned and will become another very low taxed franchise so prices may not rise like we all fear. 

Willie, the 2xu series in Melbourne makes more money than any other Tri series or major race in Australia. The only way it will shut down is due to permit issues. 

Events such as the Carmens women's race (the old Susan's 10km classic for the older viewers trying to keep up) is one race that may go. Numbers were down a bit last year, not because of the lack of runners. More to do with the course changes due roadworks and construction zones where the run normally goes. The temporary loss of parking for a lot of competitors would have kept a lot of runners away last year as well. The recent Mother's Day run suffered much the same problems last year so the organisers moved the run completely from the city area the Albert Park. 

I hope the Carmens run stays, as it is great event. My wife and daughter have competed in it and it really is a great vehicle to increase the number of women in the community getting out and running.

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Another take on it (from facebook)

Capture.PNG

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If that is true then the sport is DEAD in Melbourne.  

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Challenge Shep website already has details for this years race. Nothing for the 2XU races or Challenge Melbourne. Wouldn't believe any rumours until about 1 October when websites are normally updated and race dates confirmed. 

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Hell, half the time, the Challenge Melbourne website never got updated anyway

and then they swapped sites, and the 2016 site is still available as well...

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So, did Wanda buy them all and ditched the 2XU, She etc as per Willie's mate's info, or didn't buy them at all?

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1 minute ago, FatPom said:

So, did Wanda buy them all and ditched the 2XU, She etc as per Willie's mate's info, or didn't buy them at all?

Okay spoke to my 2xu contact today.

They only purchased the 4 listed above.

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1 hour ago, Peter said:

Okay spoke to my 2xu contact today.

They only purchased the 4 listed above.

So I can't see anything that indicates Fairfax will continue to run the Challenge and 2XU events, the press release makes it sound like they are only continuing the food and business events.  Are the Challenge and 2XU events still on the market, or will they be 'let go'?

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1 hour ago, -H- said:

So I can't see anything that indicates Fairfax will continue to run the Challenge and 2XU events, the press release makes it sound like they are only continuing the food and business events.  Are the Challenge and 2XU events still on the market, or will they be 'let go'?

I can't see anything where they say they aren't going to run them.

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Same, so I guess we have to wait and see what happens

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Update from triathlon  vic 

 

B3A56FEC-44EA-457E-87BC-008550C52B13.jpeg

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1 hour ago, Peter said:

Update from triathlon  vic 

 

B3A56FEC-44EA-457E-87BC-008550C52B13.jpeg

If the history of media releases is anything to go by that means it’s definitely cancelled 😭

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On 21/05/2019 at 3:14 PM, willie said:

I'm saying you're wrong. I know someone here in Sydney and they bought all the events and some are being wound up because they're not profitable.

Someone that currently works for Fairfax Events will be working for me from July. 

Not any more :lol:

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"Engaging with the relevant parties & is confident that the series will continue"

 

For a series that would normally kick off in 6 months, to only be "confident" and not actually able to say it will be on is not very comforting.

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2 hours ago, roxii said:

If the history of media releases is anything to go by that means it’s definitely cancelled 😭

Agree. 

Not the wording I’d use. 

Trivic membership will take a hit. 

Mind you so many have it automatically taken out of their accounts. 

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If it's that big a money maker Wanda would've taken it. I figure they would've already been a long way to getting permits etc for the race. 

If it is worth that much why wouldn't another company swoop in and run it instead?

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Ill scoop that the former race series will continue.  

Id put money on it. 

The etpa people are wrong. As usual. 

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3 hours ago, willie said:

If it's that big a money maker Wanda would've taken it. I figure they would've already been a long way to getting permits etc for the race. 

If it is worth that much why wouldn't another company swoop in and run it instead?

The media release mentions a change of name, if that means the headline sponsor is out then “making big bucks” might be a little bit shaky. 

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24 minutes ago, roxii said:

The media release mentions a change of name, if that means the headline sponsor is out then “making big bucks” might be a little bit shaky. 

Knowing that it was a 2XU sponsored series probably means there wasn't a lot of $$$ involved anyway. If there was ever a brand I wanted nothing to do with 2XU would be it... 

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