Asia's richest man hires football boss' nephew as CEO

FRENCH PRESS AGENCY - AFP
BEIJING
Published 28.11.2015 00:17

A Chinese real estate and entertainment conglomerate headed by Asia's richest man has appointed the nephew of suspended FIFA chief Sepp Blatter as head of its sports division. Philippe Blatter's promotion by Wanda Group is part of its efforts to break into the global sports market as China looks forward to hosting the 2022 Winter Olympics and a potential World Cup bid. Wanda paid 1.05 billion euros for Infront Sports and Media -- a Swiss sports marketing group headed by Blatter -- in February and has since bought the World Triathlon Corporation. Blatter will head up a business unit handling Wanda's consolidated sports assets, Infront said in a statement. The move will "expand and strengthen Wanda's businesses in the industry, while at the same time grasping the rapidly growing opportunities in the Chinese sports market", Wanda chief executive officer Wang Jianlin said in the statement, dated Wednesday. "We want to truly impact the development of sport around the world." Infront is based in Zug, Switzerland, and handles the media and marketing rights for many international sports events. Wanda also owns a stake in Spanish football club Atletico Madrid.

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