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Wanda Sports Nears Deal to Sell Ironman to Advance

  • The transaction could value Ironman at more than $700 million
  • Wanda Sports had fallen 79% since U.S. IPO as events postponed
IRONMAN World Championship

Photographer: Tom Pennington/Getty Images

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Wanda Sports Group Co. is nearing a deal to sell its Ironman triathlon business to Advance Publications Inc., owner of the media company Conde Nast, according to people familiar with the matter.

The sports marketing and event promoter could announce a sale of the business as soon as this week, said the people, who asked not to be identified because the details aren’t public. The transaction could value Ironman at more than $700 million, they said. While negotiations are advanced, the deal could still fall apart, they said.