Jake Latham
RCS Mediagroup has announced it will this week that it will be put on the market to consolidate the €440m (£312m) debt the organisers of Giro d’Italia have over their head.
There are 3 possible buyers that are interested in purchasing the organisation and RCS Sports may lose its European heritage.
Discovery Communications and IMG from the USA are interested buyers and Wanda Group, owned by China’s richest man Wang Jianlin could be a prospective buyer too.
With Discovery and IMG having direct media relationships this could see the Giro d’Italia become just as big as the Tour de France if all goes to plan.
Recently the Wanda Group bought 20 per cent of Atletico Madrid for £34m.
The future of the other events organised by RCS Sport, (Tirreno-Adriatico and Milan-San Remo) are still unknown but the deal could go through as soon as 2016 and could bring a modern interpretation to the events.
Cycling Weekly has more on the topic.
