This week's news centers around Ironman as it announces a new IPO, the sad loss of two competitors at Ironman 70.3 Wisconsin and the cancelling of Ironman Boulder.
June 14, 2019 | NEWS|
According to numerous reports Wanda Sports Group, which owns Ironman along with media company Infront and numerous other sports holdings, has filed for an initial public offering (IPO) with the United States Securities and Exchange Commission (SEC).
According to EnduranceBusiness.com:
A report on NASDAQ, citing IPO specialist Renaissance Capital, noted that the IPO is looking to raise up to US$500 million. Meanwhile, initial media reports in early 2018 indicated that Wanda Group, which has a diverse portfolio across the sports, property and entertainment categories, had hoped to raise up to US$1 billion via the share sale.
It should be noted that the number of Class A ordinary shares to be offered and the price range for the proposed offering have not yet been determined. While the size of Wanda Sports Group’s IPO is listed as US$500 million, this is likely to be a placeholder amount that is subject to change.
Wanda Sports Group generated US$1.3 billion in revenue in 2018. This encompasses all of the firm’s operations – from the IRONMAN Group, to Infront and a diverse range of sports properties, such as basketball.
Two men die at Ironman 70.3 Wisconsin
Two men died during the swim at Ironman 70.3 Wisconsin last weekend, including a 38-year-old member of the Madison fire department. Todd Mahoney, 38 and Michael McCulloch, 61, both from Wisconsin, were rescued from the lake on race day. Both were taken to hospital – McCulloch was pronounced dead later on race day, while Mahoney passed away on Tuesday.
“Mahoney was a nine-year veteran of the Madison Fire Department, most recently serving as an Apparatus Engineer at Fire Station 1 in downtown Madison and occasional Chief’s Aide for Command Car 31,” according to a release sent out by the Madison Fire Department. “He is survived by his wife and three young sons.”
McColloch, also from the area, is survived by his wife and daughter.
On June 11 Ironman posted the following statement on Facebook:
We are profoundly saddened to learn that the race participant who has been receiving treatment at a nearby hospital since Sunday’s Ironman 70.3 Wisconsin has passed away. The athlete required medical attention during the swim portion of this past weekend’s race and was transported to a nearby hospital for ongoing treatment.
We are devastated for the families and their loss and will continue to offer our support. We are thankful for the quick action taken by medical personnel on race day and remain committed to working with the local authorities in providing the safest environment possible for our athletes. No further comment will be offered at this time out of respect for the family’s privacy.
Ironman Boulder discontinued
After six years of hosting a full-distance race in the high-altitude triathlon-mecca, Ironman will no longer host a full-distance race in Boulder. The Ironman Boulder website now includes the following message:
Thank you for racing with us in Boulder. We appreciate the efforts and support of the city, volunteers, sponsors, and everyone else involved in putting on this race. We would also like to thank all of the athletes who have raced with us here. We appreciate your dedication and understand your disappointment at not being able to race.
"A decision like this is never easy, and we understand the disappointment this may cause our athletes," Ironman’s regional director Frank Lowery said in a statement. "For nearly 20 years, Boulder has provided a tremendous amount of support to the triathlon community all while embracing the Ironman spirit. We love Boulder and the local community and look forward to the future of Ironman in Boulder."
The Ironman 70.3 event in Boulder will continue – it’s slated for August 3.