CAA may be the new IMG as it has gained the latter’s best agents and team-players.
For many years, IMG has been the staple of the Sports Agent world. It has represented some of the best football players (Peyton Manning), baseball players (Derek Jeter), etc. When Ted Forstmann bought the company for $750 million, Peter Johnson was fired, IMG’s team-sports division was scrapped (bye bye Manning and Jeter), and its top agents (Casey Close and Tom Condon) moved on to CAA.
It is definitely true that IMG was previously viewed primarily as a sports service firm. It has been reinvented under Forstmann to focus more on its media and entertainment services. Whether or not Forstmann was aware of a stipulation in Close’s and Condon’s contracts, which allowed them to leave IMG with their clients if Peter Johnson was ever fired, IMG profits are about three times higher now than when Forstmann bought it [Why Did IMG Let All Those Stars Walk?]. It seems like Close and Condon made out well by selling their services to CAA, and that IMG faired fine with an increase in profits since Forstmann’s moves.
There is something to be said for those of you interested in working in the field of sports, however. IMG is definitely still a major international corporation with many opportunities for employment. Potential employees should realize that the philosophy behind IMG has changed, though. With more of a focus on entertainment and media, an internship in CAA may be more rewarding for a future Sports Agent than an internship with IMG. At the same time, IMG continues to be a leader in representing individual-sport athletes (Tiger Woods, Roger Federer), so if you are interested in that area, IMG is still a great place to work.