Chinese property and entertainment giant Wanda Group, which formally took a 20 percent stake in Spanish soccer club Atletico Madrid in April, will buy at least three more sports companies this year, its chairman said.
"Within this year, Wanda will still buy at least three sports companies," the Xinhua News Agency quoted Chairman Wang Jianlin on Wednesday as saying. "Upon the completion of these mergers and acquisitions, Wanda is going to be the world No.1 in the sports industry."
As well as the 45 million euro ($50 million) Atletico share, Wanda this year paid 1.05 billion euros for Swiss sports marketing group Infront, which is headed by the nephew of outgoing FIFA President Sepp Blatter and holds some broadcasting rights for the World Cup.
Wanda is looking to increase its influence in the global sports business, as Beijing bids for the 2022 Winter Olympic Games and rumors swirl that China could seek to host the 2026 soccer World Cup.
The billionaire, a diehard soccer fan, did not reveal specific targets, but said they should have activities in China and worldwide sports marketing or ownership rights, the report said.
Wang also claimed that "there will soon be good news announced about Chinese soccer," without giving any details, Xinhua noted.
Wanda Group could not be reached for comment.
China has unveiled plans to turn the sports sector into a 5 trillion yuan ($817 billion) industry by 2025.
Under a sweeping reform plan, private investment will be encouraged, new sports facilities will be built and the government will support the sector by increasingly buying its services.
Bloomberg News ranks Wang as China's richest man and the ninth-wealthiest in the world, with a net worth of $42.1 billion.
His Beijing-based conglomerate, which has interests in hotels, entertainment and retail, in 2014 saw a 30 percent jump in revenue to 242.5 billion yuan.
It bought US cinema chain AMC Entertainment Holdings in 2012 and has moved to branch out into film production and theme parks.
Its listed arm, Dalian Wanda Commercial Properties Co, raised $3.7 billion in an IPO in Hong Kong in December.
