China's Wanda Group has agreed to buy Infront - the Swiss sports marketing group headed by Sepp Blatter's nephew that which holds some broadcasting rights to the World Cup - for 1.05 billion euros, the two firms said yesterday. Wang Jianlin, chairman of the Chinese property and entertainment conglomerate, said in a joint statement that the acquisition will "drive the development of Chinese sports industry and its interest around the globe." The deal puts Wang - who recently bought 20 percent of Spanish football champions Atletico Madrid - and his company firmly in the front row of the global sports business. Infront Sports and Media, based in Zug, Switzerland and directed by Philippe Blatter, handles the media and marketing rights for many international sports events. It is expected to rake in several hundred million dollars on the next two football World Cups - in Russia in 2018 and in Qatar in 2022 - alone. The company, which counts some 600 employees across 12 countries, is also heavily present in all aspects of sports marketing, with sponsoring activities including advertising around sports halls and stadiums.
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