Dalian Wanda Group, announced on Thursday it has acquired the organizer of Ironman Triathlon races for $650 million, as part of a diversification push that may involve another sports purchase by the end of the year. Providence Equity Partners LLC sold World Triathlon Corp to Wang for $900 million including debt. The deal is Wanda’s latest sporting purchase after Infront Sports & Media and a stake in Spanish soccer club Atletico Madrid. Dalian Wanda Commercial Properties Co, Wanda’s parent company, expected revenue of $100 billion by 2020 from $40 billion in 2014. The Ironman will raise $183 million this year, following four years’ compound growth of 21%. Wang said, “Wanda’s next task is to widely market this global extreme, endurance sport in China.”