FIBA Officials and International Basketball Star Stephon Marbury Attend FIBA World Cup Trophy Danzhai Exhibition

Aug 07,2019

On Aug. 2, 2019, FIBA officials brought FIBA Basketball World Cup  Trophy to Danzhai, a county in China’s Guizhou Province. International basketball star Stephon Marbury also came to show his support. The trophy was on display for a day at Danzhai Wanda Village.

The trophy was unveiled jointly by 36 little champions, Mr. Burton Shipley, President of FIBA Oceania and Chairman of the Coordination Committee of the 2019 FIBA Basketball World Cup, Mr. Xu Minfeng, Vice President of Chinese Basketball Association and Stephon Marbury, former NBA basketball star. Officials of Danzhai county, leaders of Wanda Group and other shortlisted little champions also attended the unveiling ceremony.

It’s a rare opportunity for Danzhai to host the World Cup trophy. The county was a national-level poverty-stricken county. In 2014, Wanda Group began its poverty alleviation work in Danzhai. Through a package of long-term, medium-term and short-term measures led by tourism to drive comprehensive development in Danzhai, Wanda has managed to help the county climb out of poverty two years ahead of schedule.

This year, the 2019 FIBA Basketball World Cup is going to be held in China for the first time. Thanks to FIBA’s support, Danzhai trophy exhibition is added to the 8-city trophy tour in China. In 2018, with the help of Wanda, 6 kids from Danzhai appeared at the opening match of FIFA World Cup in Russia as flag-bearers, making the unknown small county famous in the world. It is believed that FIBA basketball World Cup this year will cast spotlight on Danzhai again and let it be remembered by even more people.

Danzhai Wanda Village has prepared a grand reception for the trophy. During the event, dozens of Danzhai’s intangible cultural heritage masters escorted the trophy at the village. Miao priests gave their blessings to the trophy tour. Eight branches of the Miao in festival costumes led a parade that was joined by FIBA officials and other distinguished guests.

The appearance of Stephon Marbury excited basketball fans at the scene as well as millions watching the event online. This was Marbury’s first visit to Danzhai. By being part of the trophy exhibition, he is attracting nationwide attention to the upcoming FIBA world cup as well as  to Danzhai’s poverty alleviation program.

Mr. Xu Minfeng, Vice President of Chinese Basketball Association, said that the FIBA Basketball World Cup Trophy Tour will certainly ignite people’s passion for the upcoming games. The little champions selected by Wanda Group, as well as countless teenagers who love basketball, are  the future of Chinese basketball. Programs like the little champions will encourage more youngsters in China to play basketball, fall in love with sports and help China become a healthier nation.

Mr. Burton Shipley, President of FIBA Oceania, said that Wanda Group is a strong and close partner of FIBA and that FIBA attaches great importance to the partnership with Wanda. Mr. Shipley thinks Danzhai Wanda Village is a perfect demonstration of Wanda’s efforts to fulfill its corporate social responsibilities. And the Wanda Little Champions Selection showed how sports and basketball could help develop local communities.

Stephon Marbury said he was delighted to be interacting with the little champions. He encouraged them to “train themselves as strictly as champions”.

The Basketball World Cup trophy was unveiled in Danzhai Wanda Village, the sight of which delighted tourists from all over the country. Crowds scrambled to take photos with the trophy. Marbury also interacted with the little champions on a mini basketball court, and watched the shooting competition of the little champions, which became a special part of the trophy tour.

New facility increases the Company’s liquidity and reduces fiancing costs

BEIJING, March 17, 2020 (GLOBE NEWSWIRE) -- Wanda Sports Group Company Limited (NASDAQ: WSG) (the “Company”) today announced that the Company signed a $240 million senior term loan facility agreement with Credit Suisse AG, Singapore Branch, enabling the Company to refinance and prepay its existing senior 364-day term loan facility, dated March 15, 2019.

Mr. Hengming Yang, President and CEO of Wanda Sports Group said, “We are very pleased with the new credit facility. The successful refinancing demonstrates continued confidence in our business and operations, despite the global challenges and uncertainties resulting from COVID-19. We will continue to work diligently on behalf of our partners, athletes, fans and shareholders.”

Mr. Brian Liao, Global CFO of Wanda Sports Group said, “As always, we are committed to lowering our costs, monitoring our use of cash, and balancing our investments with disciplined management of our existing financial resources to optimize shareholder returns. The new facility provides the Company with additional financial flexibility, while allowing it to take advantage of the current favorable interest rate environment to lower interest costs.”

The term of the new facility is 364 days. The pricing will initially be LIBOR plus an applicable margin, and the term is subject to certain mandatory prepayment terms. These and the other principal terms of the new facility are outlined further in a Form 6-K (Report of Foreign Private Issuer) submitted today to the U.S. Securities and Exchange Commission.

This announcement contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements can be identified by terminology such as “will,” “estimate,” “project,” “predict,” “believe,” “expect,” “anticipate,” “intend,” “potential,” “plan,” “goal” and similar statements. The Company may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the forward-looking statements. All forward-looking statements speak only as of the date of this press release and are expressly qualified in their entirety by the cautionary statements included in this press release. The Company disclaims any obligation to update or revise forward-looking statements that may be made to reflect events or circumstances that arise after the date made or to reflect the occurrence of unanticipated events, other than as required by law.