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World Triathlon Corporation
The World Triathlon Corporation (WTC) is a sports event promotion company owned by conglomerate Advance Publications, that produces the Ironman Triathlon, Ironman 70.3, the 5150 series of triathlon races, and other sports events.
In December, 1989, Dr. James P. Gills and David Voth acquired and purchased the Hawaii Triathlon Corporation, owner of the Ironman Brand, for $3 million from Valerie Silk. Voth was the CEO from 1989 to 1993 followed by David Yates then Lew Friedland in the CEO role. With the Ironman brand, Gills and Voth established the World Triathlon Corporation with the intention of furthering the sport of triathlon and building a multi media and global brand presence. By increasing prize money for both male and female triathletes and developing the Ironman World Series including new associated and licensed IronMan races, IronMan was launched into the mainstream of sports. Ben Fertic, formerly Vice President of Information Systems, joined WTC in 2000 and was involved in the business operations and day-to-day decision making for WTC. Fertic became CEO of WTC in 2004.
During Fertic's tenure as VP, he created Ironman Live, an online presence of Ironman Triathlon, and transformed WTC into an event production company. In 2007, WTC undertook expansion in producing Ironman events internally, with the inaugural Ironman Louisville. This followed the launch of Ironman 70.3 events in Boise, Idaho, and Providence, Rhode Island.
In 2008, World Triathlon Corporation was purchased by Providence Equity Securities for $85 million. Providence Equity is a private equity firm, of whom one board member is an Ironman athlete. CEO Ben Fertic remained at the helm of the business. The following year, in early in 2009, WTC announced the acquisition of Ironman events based in the United States, from North America Sports, a company founded by Canadian Graham Fraser. Employees from North America Sports were expected to remain and manage these events, which included Ironman Coeur d'Alene, Lake Placid, Wisconsin, Florida, Arizona, Ironman 70.3 California, and Ironman 70.3 Florida.
On May 31, 2011, WTC announced that Andrew Messick, who was previously the president AEG, would become CEO of the World Triathlon Corporation. Fertic would continue in his role in serving on the Board of Directors as well as serving in a newly created president position. Messick, who is an Ironman triathlon finisher himself, helped build and direct, among other things, the Tour of California cycling event.
In Fall 2015, World Triathlon Corporation and the Ironman brand were acquired by Chinese conglomerate Dalian Wanda Group. Wanda Group reached an agreement to purchase 100% of equity for $650 million and the assumption of debt from former owners Providence Equity Partners. Ironman had been in the hands of Providence for seven successful years after they purchased it in 2008. A source for the Wall Street Journal estimated that the WTC is valued at roughly $900 million and represents a quadrupling of Providence's investment in the WTC.
A Wanda Group press release stated that the World Triathlon Corporation's gross revenue has risen at a compounded average growth rate of 40% for four years straight. Net profit has grown at 40% a year. Wanda Group has announced plans to bring Ironman races to China in the future, citing the events have been hosted in over 20 countries worldwide but none yet in China. This was inspired by the success of other Ironman races in Asia, like those in Taiwan, Korea, and Japan.
Dalian Wanda acquired Competitor Group (operator of the Rock 'n' Roll Marathon Series) in 2017; it became a subsidiary of the Ironman Group.
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World Triathlon Corporation
The World Triathlon Corporation (WTC) is a sports event promotion company owned by conglomerate Advance Publications, that produces the Ironman Triathlon, Ironman 70.3, the 5150 series of triathlon races, and other sports events.
In December, 1989, Dr. James P. Gills and David Voth acquired and purchased the Hawaii Triathlon Corporation, owner of the Ironman Brand, for $3 million from Valerie Silk. Voth was the CEO from 1989 to 1993 followed by David Yates then Lew Friedland in the CEO role. With the Ironman brand, Gills and Voth established the World Triathlon Corporation with the intention of furthering the sport of triathlon and building a multi media and global brand presence. By increasing prize money for both male and female triathletes and developing the Ironman World Series including new associated and licensed IronMan races, IronMan was launched into the mainstream of sports. Ben Fertic, formerly Vice President of Information Systems, joined WTC in 2000 and was involved in the business operations and day-to-day decision making for WTC. Fertic became CEO of WTC in 2004.
During Fertic's tenure as VP, he created Ironman Live, an online presence of Ironman Triathlon, and transformed WTC into an event production company. In 2007, WTC undertook expansion in producing Ironman events internally, with the inaugural Ironman Louisville. This followed the launch of Ironman 70.3 events in Boise, Idaho, and Providence, Rhode Island.
In 2008, World Triathlon Corporation was purchased by Providence Equity Securities for $85 million. Providence Equity is a private equity firm, of whom one board member is an Ironman athlete. CEO Ben Fertic remained at the helm of the business. The following year, in early in 2009, WTC announced the acquisition of Ironman events based in the United States, from North America Sports, a company founded by Canadian Graham Fraser. Employees from North America Sports were expected to remain and manage these events, which included Ironman Coeur d'Alene, Lake Placid, Wisconsin, Florida, Arizona, Ironman 70.3 California, and Ironman 70.3 Florida.
On May 31, 2011, WTC announced that Andrew Messick, who was previously the president AEG, would become CEO of the World Triathlon Corporation. Fertic would continue in his role in serving on the Board of Directors as well as serving in a newly created president position. Messick, who is an Ironman triathlon finisher himself, helped build and direct, among other things, the Tour of California cycling event.
In Fall 2015, World Triathlon Corporation and the Ironman brand were acquired by Chinese conglomerate Dalian Wanda Group. Wanda Group reached an agreement to purchase 100% of equity for $650 million and the assumption of debt from former owners Providence Equity Partners. Ironman had been in the hands of Providence for seven successful years after they purchased it in 2008. A source for the Wall Street Journal estimated that the WTC is valued at roughly $900 million and represents a quadrupling of Providence's investment in the WTC.
A Wanda Group press release stated that the World Triathlon Corporation's gross revenue has risen at a compounded average growth rate of 40% for four years straight. Net profit has grown at 40% a year. Wanda Group has announced plans to bring Ironman races to China in the future, citing the events have been hosted in over 20 countries worldwide but none yet in China. This was inspired by the success of other Ironman races in Asia, like those in Taiwan, Korea, and Japan.
Dalian Wanda acquired Competitor Group (operator of the Rock 'n' Roll Marathon Series) in 2017; it became a subsidiary of the Ironman Group.