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In the News: Chinese billionaire may buy grand tours

According to a report in Italian newspaper Milano Finanza, a Chinese billionaire may be angling for a chance to purchase one of cycling’s biggest races. The story, reported in both CyclingQuotes and CyclingTips, says that Wang Jianlin wants to purchase a grand tour and is in talks with Tour de France and Vuelta a España owner Amaury Sport Organisation.

Wang is reportedly worth close to $30 billion, and as such is the wealthiest person in China. Earlier this year, he bought a 20-percent stake in the Spanish soccer club Atletico Madrid. The billionaire has been busy in 2015 — his conglomerate, Dalian Wanda, purchased the Ironman triathlon event company for $650 million in August as well.

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