Reason behind lack of cancellations?
That was unexpected!
Not the PTO then!
Expect heavy promotion in GQ, Vogue and Vanity Fair… the ST mob will love this
Yeah, time for a new hobby
Bet their really glad to have bought a company whose primary product is about to be almost completely decimated for the foreseeable future
PTO were never even at the table.
who the frigging hell are Advance? they look like another vulture capital corporation who will be looking to get a big return on it’s spend so expect prices to go up when events start happening again, and seem to have no experience in the sports sector. I bet Wanda are rubbing their hands with glee to have offloaded IM especially with the lack of races generating income now.
$730m, so Wanda lost a big chunk of cash on the deal.
It an interesting strategy for a group who is built around high end glossies. I have come accross Leaders Group Before, they are more into using data to drive value from events.
My take on it is that Advance Publications are trying to diversify. I think that they will drive Ironman to become and elite lifestyle brand rather than a sporting achievement
It already is an ‘elitist’ (sporting) product isn’t it, what with the entry fees and current demographic. Conde Nast group will just be introducing a new group of people to it via it’s other businesses?
I recognise a number of Advance’s investments but IM seems an odd add still. sure there’s value in the IM brand so let’s see how this one plays out. at least Wanda had a reasonable investment in the sports sector before they bought IM, but Advance don’t seem to have any pedigree here.
interesting time to make this acquisition!!!
Ironman is not going in a good direction.
Ironman shouldn’t be a for-profit commercial monster.
I’ve been meaning to write out my thoughts on the future of Ironman for a while, I will get round to it…
I love how that clown empfield does not have the scoop on this…he loves to act like he is the oracle
He got PROPER feisty with @Jorgan and I once upon a time, when we left a few comments calling him out.
I used to think it was ok; now I cant stand the constant promoting of his partners
They have just signed on The Pros closet; and now every article he writes has a mention of how PX’ing your bike is the future…
Its so cynical and transparent…
Look at the front page today; its basically an advertorial for some reading glasses (made by, drum roll, one of their sponsorship partners)
Yes Ironman will take a bath this year, but the brand will survive, as will the events.
Meanwhile I see the medium - small event management companies getting annihilated by this - they won’t have insurance for this, and the ‘no refund’ policy their situation compels will hurt them next year. Some will have had such a kicking they wont even try and make it back next year.
Small club run events should survive.
Ironman will view this as a medium/long term opportunity.
Maybe…but from a cash perspectve, its a major disaster… say 50 races get cancelled, withan average of 1500 entrants each, at £500 fee… that’s in excess of £37M in refunds as a potential liability… yes, some of it will be offset by people choosing to defer or shift to another event instead, but that’s just weakening future income. If they choose not to refund, its a huge hit to the brand reputation, and could open the door to others like Challenge.
I have no idea what the new VC’s financials look like, but that’s a big hole to plug.